Lee Enterprises (NYSE:LEE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Lee Enterprises (NYSE:LEE) from a hold rating to a buy rating in a research report report published on Friday morning.

Lee Enterprises Price Performance

Shares of LEE stock traded down $0.11 during trading hours on Friday, reaching $16.30. The stock had a trading volume of 112,470 shares, compared to its average volume of 30,207. The stock’s fifty day simple moving average is $12.82 and its 200 day simple moving average is $11.58. The firm has a market capitalization of $100.90 million, a PE ratio of -5.45 and a beta of 1.07. Lee Enterprises has a 12 month low of $7.56 and a 12 month high of $19.63. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 69.34.

Insider Activity

In related news, major shareholder Raghav Nath Bahl sold 71,000 shares of Lee Enterprises stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $15.00, for a total transaction of $1,065,000.00. Following the completion of the sale, the insider now owns 30,205 shares of the company’s stock, valued at approximately $453,075. This trade represents a 70.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.40% of the company’s stock.

Institutional Trading of Lee Enterprises

Several institutional investors and hedge funds have recently modified their holdings of LEE. Gamco Investors INC. ET AL increased its position in shares of Lee Enterprises by 94.8% in the first quarter. Gamco Investors INC. ET AL now owns 149,150 shares of the company’s stock worth $1,988,000 after purchasing an additional 72,600 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Lee Enterprises by 92.2% during the 1st quarter. Gabelli Funds LLC now owns 110,541 shares of the company’s stock valued at $1,474,000 after buying an additional 53,041 shares in the last quarter. Finally, Wittenberg Investment Management Inc. lifted its holdings in shares of Lee Enterprises by 13.7% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 121,755 shares of the company’s stock worth $1,060,000 after acquiring an additional 14,715 shares during the last quarter. Hedge funds and other institutional investors own 39.20% of the company’s stock.

Lee Enterprises Company Profile

Lee Enterprises, Incorporated provides local news and information, and advertising services in the United States. The company offers digital subscription platforms; daily, weekly, and monthly newspapers and niche publications; and web hosting and content management services. It also provides advertising and marketing services, such as audience extension, search engine optimization, search engine marketing, web and mobile production, social media services, and reputation monitoring and management.