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

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.62 and traded as high as $5.65. Lee Enterprises shares last traded at $5.49, with a volume of 44,036 shares traded.

Lee Enterprises Stock Performance

The firm’s 50 day simple moving average is $4.49 and its 200 day simple moving average is $4.62. The firm has a market capitalization of $34.38 million, a price-to-earnings ratio of -0.75 and a beta of 0.53. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78.

Hedge Funds Weigh In On Lee Enterprises

Institutional investors and hedge funds have recently modified their holdings of the stock. Murphy Pohlad Asset Management LLC acquired a new stake in Lee Enterprises during the third quarter worth about $66,000. Teton Advisors LLC purchased a new stake in Lee Enterprises in the 3rd quarter worth approximately $82,000. Jane Street Group LLC acquired a new stake in shares of Lee Enterprises during the 2nd quarter worth approximately $86,000. Royal Bank of Canada increased its holdings in shares of Lee Enterprises by 15,715.8% during the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock valued at $302,000 after purchasing an additional 28,917 shares in the last quarter. Finally, Wittenberg Investment Management Inc. increased its holdings in shares of Lee Enterprises by 20.1% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock valued at $544,000 after purchasing an additional 14,262 shares in the last quarter. Institutional investors and hedge funds 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.