Lee Enterprises (NYSE:LEE) Cut to Hold at StockNews.com

StockNews.com lowered shares of Lee Enterprises (NYSE:LEE) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Lee Enterprises Price Performance

Shares of LEE opened at $15.15 on Wednesday. Lee Enterprises has a one year low of $7.56 and a one year high of $19.63. The stock’s fifty day moving average is $16.39 and its 200-day moving average is $12.24. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.87 and a current ratio of 0.92. The firm has a market capitalization of $93.79 million, a price-to-earnings ratio of -5.07 and a beta of 1.02.

Insiders Place Their Bets

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of the 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 transaction, the insider now directly owns 30,205 shares of the company’s stock, valued at approximately $453,075. This trade represents a 70.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.40% of the stock is owned by insiders.

Institutional Trading of Lee Enterprises

An institutional investor recently raised its position in Lee Enterprises stock. Wittenberg Investment Management Inc. boosted its holdings in Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,755 shares of the company’s stock after acquiring an additional 14,715 shares during the quarter. Wittenberg Investment Management Inc. owned about 1.97% of Lee Enterprises worth $1,060,000 as of its most recent SEC filing. 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.