Lee Enterprises, Incorporated (NYSE:LEE) Major Shareholder Acquires $310,200.00 in Stock

Lee Enterprises, Incorporated (NYSE:LEE) major shareholder Digital Ltd Quint bought 22,000 shares of the stock in a transaction on Friday, March 22nd. The stock was purchased at an average cost of $14.10 per share, with a total value of $310,200.00. Following the purchase, the insider now directly owns 726,000 shares of the company’s stock, valued at approximately $10,236,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Digital Ltd Quint also recently made the following trade(s):

• On Tuesday, March 26th, Digital Ltd Quint acquired 17,000 shares of Lee Enterprises stock. The shares were bought at an average cost of $15.61 per share, with a total value of $265,370.00.
• On Monday, March 18th, Digital Ltd Quint acquired 46,500 shares of Lee Enterprises stock. The shares were bought at an average cost of $12.92 per share, with a total value of $600,780.00.

Lee Enterprises Stock Down 0.4 %

Lee Enterprises stock opened at $15.30 on Thursday. The company has a market cap of $93.94 million, a P/E ratio of -15.94 and a beta of 1.15. Lee Enterprises, Incorporated has a 1-year low of $7.56 and a 1-year high of $15.89. The company has a fifty day simple moving average of $10.84 and a 200 day simple moving average of $10.08. The company has a current ratio of 0.94, a quick ratio of 0.87 and a debt-to-equity ratio of 20.47.

Lee Enterprises (NYSE:LEE) last released its earnings results on Thursday, February 1st. The company reported $0.12 earnings per share for the quarter. The business had revenue of $155.68 million during the quarter. Lee Enterprises had a negative net margin of 0.86% and a negative return on equity of 30.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Lee Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th.

Institutional Trading of Lee Enterprises

A number of large investors have recently added to or reduced their stakes in LEE. Wittenberg Investment Management Inc. acquired a new stake in Lee Enterprises in the third quarter valued at $1,210,000. Cannell Capital LLC lifted its stake in Lee Enterprises by 17.1% in the first quarter. Cannell Capital LLC now owns 543,614 shares of the company’s stock valued at $14,634,000 after acquiring an additional 79,440 shares during the last quarter. Morgan Stanley lifted its stake in Lee Enterprises by 33.7% in the fourth quarter. Morgan Stanley now owns 112,710 shares of the company’s stock valued at $2,092,000 after acquiring an additional 28,421 shares during the last quarter. Invesco Ltd. acquired a new stake in Lee Enterprises in the first quarter valued at $611,000. Finally, Northern Trust Corp acquired a new stake in Lee Enterprises in the fourth quarter valued at $138,000. Institutional investors and hedge funds 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.