Lee Enterprises (NYSE:LEE) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Lee Enterprises, Incorporated (NYSE:LEE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.76 and traded as high as $9.91. Lee Enterprises shares last traded at $9.34, with a volume of 150,978 shares traded.

Lee Enterprises Price Performance

The company has a market capitalization of $185.18 million, a P/E ratio of -1.14 and a beta of 0.34. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34. The business has a 50 day simple moving average of $9.27 and a 200-day simple moving average of $7.83.

Insider Transactions at Lee Enterprises

In other Lee Enterprises news, Director Herbert W. Moloney III sold 24,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $9.82, for a total value of $235,680.00. Following the completion of the transaction, the director owned 23,037 shares in the company, valued at approximately $226,223.34. This represents a 51.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Henry Hoffmann purchased 6,925 shares of the company’s stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $10.86 per share, for a total transaction of $75,205.50. Following the purchase, the director directly owned 11,517,242 shares of the company’s stock, valued at $125,077,248.12. This trade represents a 0.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 94,225 shares of company stock worth $898,978. Corporate insiders own 54.20% of the company’s stock.

Hedge Funds Weigh In On Lee Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEE. Gamco Investors INC. ET AL grew its stake in shares of Lee Enterprises by 23.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock worth $2,881,000 after purchasing an additional 115,779 shares in the last quarter. Teton Advisors LLC raised its stake in shares of Lee Enterprises by 13.3% during the fourth quarter. Teton Advisors LLC now owns 17,000 shares of the company’s stock valued at $81,000 after purchasing an additional 2,000 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Lee Enterprises by 9.5% during the fourth quarter. Gabelli Funds LLC now owns 226,800 shares of the company’s stock valued at $1,086,000 after purchasing an additional 19,700 shares in the last quarter. Jane Street Group LLC acquired a new stake in Lee Enterprises in the second quarter worth about $86,000. Finally, DRW Securities LLC acquired a new stake in Lee Enterprises in the fourth quarter worth about $99,000. 39.20% of the stock is owned by institutional investors.

Lee Enterprises Company Profile

Lee Enterprises, Inc is a publicly traded media company based in Davenport, Iowa, with a heritage dating back to 1890 when Alfred W. Lee acquired the Davenport Times-Democrat. Over the decades, the company has grown through acquisitions and organic expansion to become one of the largest regional news publishers in the United States. Lee Enterprises’ shares trade on the New York Stock Exchange under the ticker symbol LEE.

The company’s principal activities center on the production and distribution of local journalism across print and digital channels.