Lee Enterprises (NYSE:LEE) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: Lee Enterprises shares crossed above their 200-day moving average
• Mixed insider activity: Director Brent Magid sold 26,804 shares (reducing his stake by 75.37%), while Director David H. Hoffmann bought 27,800 shares; overall insiders bought 2,646,809 shares in the past three months and now own 54.20% of the company.
• Balance-sheet and valuation concerns: The company has a current ratio of 0.78, quick ratio 0.72, a high debt‑to‑equity of 69.34, a negative P/E (-1.09), and a market cap of about $176.8 million, with institutional ownership around 39.2%.

Lee Enterprises, Incorporated (NYSE:LEE - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.36 and traded as high as $8.84. Lee Enterprises shares last traded at $7.95, with a volume of 208,553 shares.

Lee Enterprises Stock Performance

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 company has a market capitalization of $176.81 million, a price-to-earnings ratio of -1.09 and a beta of 0.37. The stock's fifty day simple moving average is $7.08 and its 200-day simple moving average is $5.36.

Insider Activity

In related news, Director Brent Magid sold 26,804 shares of Lee Enterprises stock in a transaction on Friday, March 6th. The stock was sold at an average price of $9.08, for a total value of $243,380.32. Following the completion of the transaction, the director directly owned 8,760 shares in the company, valued at approximately $79,540.80. This trade represents a 75.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Henry Hoffmann bought 27,800 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $9.35 per share, with a total value of $259,930.00. Following the completion of the purchase, the director directly owned 11,266,449 shares in the company, valued at $105,341,298.15. This represents a 0.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 2,646,809 shares of company stock worth $9,694,014. Corporate insiders own 54.20% of the company's stock.

Hedge Funds Weigh In On Lee Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of 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 period. Gamco Investors INC. ET AL lifted its stake in Lee Enterprises by 4.9% in the second quarter. Gamco Investors INC. ET AL now owns 493,816 shares of the company's stock worth $3,160,000 after acquiring an additional 23,269 shares during the last quarter. Gabelli Funds LLC grew its holdings in Lee Enterprises by 2.2% during the 2nd quarter. Gabelli Funds LLC now owns 202,482 shares of the company's stock worth $1,296,000 after acquiring an additional 4,389 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Lee Enterprises in the 2nd quarter valued at approximately $86,000. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in shares of Lee Enterprises in the 3rd quarter valued at approximately $66,000. 39.20% of the stock is owned by institutional investors and hedge funds.

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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