Lee Enterprises (NYSE:LEE) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Lee Enterprises (NYSE:LEE) from a buy rating to a hold rating in a research note released on Thursday.

Lee Enterprises Stock Down 3.1 %

Shares of LEE traded down $0.56 during midday trading on Thursday, reaching $17.68. 40,558 shares of the company were exchanged, compared to its average volume of 29,855. Lee Enterprises has a 1-year low of $7.56 and a 1-year high of $19.63. The stock has a 50-day moving average price of $11.98 and a 200-day moving average price of $11.43. 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 company has a market cap of $109.44 million, a price-to-earnings ratio of -5.75 and a beta of 1.07.

Insider Buying and Selling at Lee Enterprises

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $15.00, for a total transaction of $1,065,000.00. Following the completion of the sale, the insider now owns 30,205 shares of the company’s stock, valued at approximately $453,075. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lee Enterprises stock. Gabelli Funds LLC increased its position in shares of Lee Enterprises, Incorporated (NYSE:LEE) by 11.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,441 shares of the company’s stock after purchasing an additional 12,900 shares during the quarter. Gabelli Funds LLC owned 2.01% of Lee Enterprises worth $1,371,000 at the end of the most recent reporting period. 39.20% of the stock is owned by institutional investors and hedge funds.

About Lee Enterprises

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.