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

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price crossed 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.

Lee Enterprises Stock Performance

The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. The stock’s fifty day moving average is $8.22 and its two-hundred day moving average is $5.82. The firm has a market cap of $184.59 million, a price-to-earnings ratio of -1.14 and a beta of 0.31.

Insider Buying and Selling

In other news, Director David Henry Hoffmann acquired 27,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $9.35 per share, with a total value of $259,930.00. Following the acquisition, the director directly owned 11,266,449 shares in the company, valued at approximately $105,341,298.15. The trade was a 0.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brent Magid sold 26,804 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $9.08, for a total transaction of $243,380.32. Following the completion of the sale, the director directly owned 8,760 shares in the company, valued at approximately $79,540.80. This trade represents a 75.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 2,646,809 shares of company stock valued at $9,694,014 in the last quarter. Company insiders own 54.20% of the company’s stock.

Institutional Trading of Lee Enterprises

A number of large investors have recently modified their holdings of LEE. Royal Bank of Canada increased its holdings in shares of Lee Enterprises by 15,715.8% in the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after acquiring an additional 28,917 shares during the period. Gabelli Funds LLC increased its stake in Lee Enterprises by 2.2% during the 2nd quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock valued at $1,296,000 after buying an additional 4,389 shares during the period. Jane Street Group LLC acquired a new position in Lee Enterprises during the 2nd quarter valued at about $86,000. Murphy Pohlad Asset Management LLC acquired a new position in Lee Enterprises during the 3rd quarter valued at about $66,000. Finally, Teton Advisors LLC acquired a new position in Lee Enterprises during the 3rd quarter valued at about $82,000. 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.