Lee Enterprises (NYSE:LEE) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• LEE shares crossed above its 200-day moving average, trading as high as $8.95 and last at $8.76 versus the 200‑day SMA of $5.56 on Monday with ~43,674 shares changing hands.
• Significant insider buying was reported: Director David Hoffmann bought 27,800 shares at $9.33 and major shareholder Digital Ltd Quint bought 2,451,346 shares at $3.25, and insiders purchased 2.65M shares over the past three months, now owning 54.20% of the stock.
• The company has a small market cap (~$194.8M) with a negative P/E (-1.20), high debt-to-equity (69.34) and weak liquidity (quick ratio 0.72, current ratio 0.78); institutional investors hold about 39.2% of the shares.

Lee Enterprises, Incorporated (NYSE:LEE - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.56 and traded as high as $8.95. Lee Enterprises shares last traded at $8.76, with a volume of 43,674 shares traded.

Lee Enterprises Stock Performance

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 50 day simple moving average of $7.49 and a two-hundred day simple moving average of $5.56. The stock has a market capitalization of $194.82 million, a P/E ratio of -1.20 and a beta of 0.37.

Insider Activity at Lee Enterprises

In other news, Director David Henry Hoffmann purchased 27,800 shares of the company's stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $9.33 per share, with a total value of $259,374.00. Following the completion of the transaction, the director owned 11,210,849 shares of the company's stock, valued at $104,597,221.17. The trade was a 0.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Digital Ltd Quint purchased 2,451,346 shares of the business's stock in a transaction on Thursday, February 5th. The stock was purchased at an average price of $3.25 per share, with a total value of $7,966,874.50. Following the purchase, the insider owned 3,214,346 shares of the company's stock, valued at approximately $10,446,624.50. The trade was a 321.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 2,646,809 shares of company stock valued at $9,694,014. 54.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lee Enterprises

A number of institutional investors and hedge funds have recently modified their holdings of LEE. Gamco Investors INC. ET AL lifted its stake in Lee Enterprises by 23.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company's stock valued at $2,881,000 after purchasing an additional 115,779 shares during the last quarter. Royal Bank of Canada increased its position in Lee Enterprises by 15,715.8% during the first quarter. Royal Bank of Canada now owns 29,101 shares of the company's stock worth $302,000 after buying an additional 28,917 shares during the last quarter. DRW Securities LLC bought a new stake in Lee Enterprises in the fourth quarter valued at approximately $99,000. Gabelli Funds LLC lifted its position in shares of Lee Enterprises by 9.5% in the fourth quarter. Gabelli Funds LLC now owns 226,800 shares of the company's stock valued at $1,086,000 after buying an additional 19,700 shares during the last quarter. Finally, Teton Advisors LLC bought a new position in shares of Lee Enterprises during the 3rd quarter worth approximately $82,000. 39.20% of the stock is owned by institutional investors.

About Lee Enterprises

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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