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

Key Points

• Lee Enterprises' stock passed above its 200-day moving average
• Notable insider activity: Director Brent Magid sold 26,804 shares (a 75.37% cut to his position) while Director David H. Hoffmann bought 27,800 shares; insiders have acquired 2,646,809 shares in the last 90 days and now own 54.20% of the company.
• Key fundamentals: market cap $186.15 million, negative PE of -1.15, high leverage (debt-to-equity 69.34) and weak liquidity (quick ratio 0.72, current ratio 0.78).

Lee Enterprises, Incorporated (NYSE:LEE - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.95 and traded as high as $8.96. Lee Enterprises shares last traded at $8.37, with a volume of 11,502 shares trading hands.

Lee Enterprises Price Performance

The company has a market capitalization of $186.15 million, a PE ratio of -1.15 and a beta of 0.31. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. The stock has a 50 day moving average price of $8.53 and a two-hundred day moving average price of $5.95.

Insider Activity

In related news, Director Brent Magid sold 26,804 shares of Lee Enterprises stock in a transaction on Friday, March 6th. The shares were sold at an average price of $9.08, for a total value of $243,380.32. Following the completion of the sale, the director owned 8,760 shares of the company's stock, valued at approximately $79,540.80. The trade was a 75.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Henry Hoffmann bought 27,800 shares of the stock in a transaction on Wednesday, March 11th. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $259,374.00. Following the completion of the transaction, the director directly owned 11,210,849 shares of the company's stock, valued at approximately $104,597,221.17. The trade was a 0.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 2,646,809 shares of company stock worth $9,694,014. 54.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LEE. Murphy Pohlad Asset Management LLC bought a new position in shares of Lee Enterprises in the third quarter valued at approximately $66,000. Teton Advisors LLC grew its stake in Lee Enterprises by 13.3% in the 4th quarter. Teton Advisors LLC now owns 17,000 shares of the company's stock valued at $81,000 after buying an additional 2,000 shares during the last quarter. Jane Street Group LLC acquired a new position in Lee Enterprises in the 2nd quarter valued at $86,000. DRW Securities LLC bought a new position in Lee Enterprises in the 4th quarter worth $99,000. Finally, Royal Bank of Canada raised its holdings in Lee Enterprises by 15,715.8% in the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company's stock worth $302,000 after acquiring an additional 28,917 shares during the period. Institutional investors and hedge funds own 39.20% of the company's stock.

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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