Cannell Capital LLC Makes New Investment in Lee Enterprises, Incorporated $LEE

Cannell Capital LLC bought a new stake in Lee Enterprises, Incorporated (NYSE:LEE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 344,349 shares of the company’s stock, valued at approximately $3,085,367. Lee Enterprises comprises approximately 0.0% of Cannell Capital LLC’s portfolio, making the stock its 20th biggest position. Cannell Capital LLC owned approximately 1.54% of Lee Enterprises as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of LEE. Teton Advisors LLC raised its holdings in shares of Lee Enterprises by 13.3% in the 4th quarter. Teton Advisors LLC now owns 17,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,000 shares during the period. Gabelli Funds LLC lifted its stake in Lee Enterprises by 2.2% in the second quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock valued at $1,296,000 after purchasing an additional 4,389 shares during the last quarter. Deutsche Bank AG bought a new position in Lee Enterprises during the second quarter valued at $59,000. Jane Street Group LLC bought a new position in Lee Enterprises during the second quarter valued at $86,000. Finally, DRW Securities LLC purchased a new stake in Lee Enterprises in the fourth quarter worth $99,000. 39.20% of the stock is owned by institutional investors.

Insider Transactions at Lee Enterprises

In other Lee Enterprises news, Director David Henry Hoffmann bought 6,925 shares of the business’s stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $10.86 per share, for a total transaction of $75,205.50. Following the completion of the transaction, the director directly owned 11,517,242 shares of the company’s stock, valued at $125,077,248.12. This trade represents a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Herbert W. Moloney III sold 24,000 shares of Lee Enterprises stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $9.82, for a total transaction of $235,680.00. Following the completion of the transaction, the director owned 23,037 shares of the company’s stock, valued at $226,223.34. The trade was a 51.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 54.20% of the company’s stock.

Lee Enterprises Stock Performance

Shares of LEE opened at $8.37 on Friday. The firm has a market cap of $186.58 million, a PE ratio of -1.15 and a beta of 0.35. The stock’s fifty day moving average price is $8.29 and its two-hundred day moving average price is $8.59. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.78 and a quick ratio of 0.72. Lee Enterprises, Incorporated has a 1 year low of $3.34 and a 1 year high of $11.88.

Lee Enterprises Company Profile

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.