BlackRock Inc. Buys Shares of 363,701 Lee Enterprises, Incorporated $LEE

Key Points

• BlackRock initiated a stake in Lee Enterprises during the second quarter, purchasing 363,701 shares valued at approximately $3.26 million, or about 1.64% of the company.
• Other institutional investors also adjusted their positions, while institutional investors collectively owned 39.2% of Lee Enterprises’ stock.
• Lee Enterprises shares opened at $8.13, with the stock trading between a 52-week low of $3.34 and high of $11.88; insiders owned 54.2% of the company after a director purchase and another director’s share sale.

BlackRock Inc. purchased a new stake in shares of Lee Enterprises, Incorporated (NYSE:LEE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 363,701 shares of the company's stock, valued at approximately $3,259,000. BlackRock Inc. owned about 1.64% of Lee Enterprises at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Deutsche Bank AG acquired a new position in shares of Lee Enterprises during the 2nd quarter valued at about $59,000. Private Advisor Group LLC acquired a new stake in Lee Enterprises in the 1st quarter worth approximately $430,000. DRW Securities LLC acquired a new stake in Lee Enterprises in the 4th quarter worth approximately $99,000. Gamco Investors INC. ET AL boosted its position in Lee Enterprises by 23.8% during the fourth quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company's stock worth $2,881,000 after purchasing an additional 115,779 shares during the period. Finally, Teton Advisors LLC boosted its position in Lee Enterprises by 13.3% during the fourth 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. Institutional investors own 39.20% of the company's stock.

Insider Transactions at Lee Enterprises

In other news, Director David Hoffmann bought 6,925 shares of Lee Enterprises stock in a transaction dated Monday, June 8th. The shares were bought at an average price of $10.86 per share, for a total transaction of $75,205.50. Following the purchase, the director owned 11,517,242 shares of the company's stock, valued at approximately $125,077,248.12. This trade represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Herbert W. Moloney III sold 24,000 shares of the 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 sale, the director owned 23,037 shares of the company's stock, valued at $226,223.34. This trade represents a 51.02% decrease in their position. The SEC filing for this sale provides additional information. 54.20% of the stock is currently owned by company insiders.

Lee Enterprises Stock Performance

NYSE:LEE opened at $8.13 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 69.34. The firm's fifty day simple moving average is $8.20 and its 200 day simple moving average is $8.66. The firm has a market capitalization of $181.23 million, a PE ratio of -1.12 and a beta of 0.38. 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.

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