Lee Enterprises (NYSE:LEE) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Lee Enterprises, Incorporated (NYSE:LEE)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.82 and traded as high as $8.46. Lee Enterprises shares last traded at $8.30, with a volume of 61,528 shares trading hands.

Lee Enterprises Stock Down 3.0%

The firm’s fifty day moving average price is $8.34 and its 200-day moving average price is $5.86. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.78 and a quick ratio of 0.72. The firm has a market capitalization of $184.59 million, a P/E ratio of -1.14 and a beta of 0.31.

Insider Activity

In other news, Director Brent Magid sold 26,804 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $9.08, for a total value of $243,380.32. Following the completion of the transaction, the director directly owned 8,760 shares in the company, valued at $79,540.80. This trade represents a 75.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Henry Hoffmann bought 27,800 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average cost of $9.33 per share, with a total value of $259,374.00. Following the purchase, the director directly owned 11,210,849 shares of the company’s stock, valued at approximately $104,597,221.17. This represents a 0.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 2,646,809 shares of company stock worth $9,694,014 over the last three months. Corporate insiders own 54.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LEE. Gamco Investors INC. ET AL boosted its stake in Lee Enterprises by 23.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock valued at $2,881,000 after buying an additional 115,779 shares in the last quarter. Royal Bank of Canada boosted its holdings in Lee Enterprises by 15,715.8% during the first quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after buying an additional 28,917 shares in the last quarter. DRW Securities LLC bought a new stake in Lee Enterprises during the fourth quarter worth approximately $99,000. Gabelli Funds LLC boosted its holdings in Lee Enterprises by 9.5% during the fourth quarter. Gabelli Funds LLC now owns 226,800 shares of the company’s stock worth $1,086,000 after buying an additional 19,700 shares in the last quarter. Finally, Teton Advisors LLC bought a new stake in Lee Enterprises during the third quarter worth approximately $82,000. Institutional investors own 39.20% of the company’s stock.

About Lee Enterprises

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.