Lee Enterprises (NYSE:LEE) Director Acquires $48,914.88 in Stock

Lee Enterprises, Incorporated (NYSE:LEE) Director David Hoffmann acquired 7,028 shares of Lee Enterprises stock in a transaction on Tuesday, November 10th. The shares were purchased at an average price of $6.96 per share, with a total value of $48,914.88. Following the completion of the purchase, the director owned 11,537,609 shares in the company, valued at $80,301,758.64. This represents a 0.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lee Enterprises Stock Up 7.4%

Lee Enterprises stock traded up $0.53 during trading hours on Friday, hitting $7.66. The stock had a trading volume of 27,935 shares, compared to its average volume of 59,687. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34. The stock has a market capitalization of $170.76 million, a P/E ratio of -1.05 and a beta of 0.45. Lee Enterprises, Incorporated has a 12-month low of $3.34 and a 12-month high of $11.88. The stock’s 50-day moving average price is $6.93 and its 200-day moving average price is $8.04.

Hedge Funds Weigh In On Lee Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEE. Private Advisor Group LLC increased its holdings in shares of Lee Enterprises by 119.3% in the 3rd quarter. Private Advisor Group LLC now owns 741,300 shares of the company’s stock worth $5,152,000 after purchasing an additional 403,300 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Lee Enterprises in the second quarter worth $3,259,000. Cannell Capital LLC purchased a new position in shares of Lee Enterprises in the second quarter worth $3,085,367. State of Wyoming purchased a new position in shares of Lee Enterprises in the third quarter worth $287,000. Finally, Empowered Funds LLC purchased a new position in shares of Lee Enterprises in the third quarter worth $151,000. 39.20% of the stock is owned by institutional investors.

About Lee Enterprises

Lee Enterprises is a media company focused on local news and information. It publishes newspapers and operates digital news websites, providing coverage of community, regional and national events, along with advertising and marketing services for businesses. Founded in Iowa in 1890 and headquartered in Davenport, Lee serves communities across the United States. Its portfolio includes local and regional publications, including newspapers acquired from Berkshire Hathaway in 2020, and their associated digital platforms.