Lee Enterprises (NYSE:LEE) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Lee Enterprises, Incorporated (NYSE:LEEGet Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.41 and traded as high as $14.87. Lee Enterprises shares last traded at $14.06, with a volume of 61,565 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Lee Enterprises from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Get Our Latest Stock Analysis on LEE

Lee Enterprises Trading Down 2.2 %

The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 69.34. The firm has a market cap of $85.11 million, a PE ratio of -3.15 and a beta of 1.07. The business has a fifty day moving average price of $15.99 and a 200 day moving average price of $12.43.

Insider Buying and Selling at Lee Enterprises

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $15.00, for a total value of $1,065,000.00. Following the completion of the sale, the insider now owns 30,205 shares in the company, valued at approximately $453,075. The trade was a 70.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lee Enterprises

An institutional investor recently raised its position in Lee Enterprises stock. Wittenberg Investment Management Inc. boosted its holdings in shares of Lee Enterprises, Incorporated (NYSE:LEEFree Report) by 13.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 121,755 shares of the company’s stock after purchasing an additional 14,715 shares during the period. Wittenberg Investment Management Inc. owned approximately 1.97% of Lee Enterprises worth $1,060,000 as of its most recent filing with the SEC. 39.20% of the stock is currently owned by hedge funds and other institutional investors.

Lee Enterprises Company Profile

(Get Free Report)

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.

Further Reading

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