Lee Enterprises (NYSE:LEE) Cut to Hold at StockNews.com

StockNews.com cut shares of Lee Enterprises (NYSE:LEE) from a buy rating to a hold rating in a research report report published on Wednesday morning.

Lee Enterprises Trading Down 6.3 %

Shares of NYSE LEE opened at $14.98 on Wednesday. Lee Enterprises has a twelve month low of $7.56 and a twelve month high of $19.63. The stock has a market cap of $92.74 million, a price-to-earnings ratio of -5.01 and a beta of 1.02. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 69.34. The company’s fifty day moving average is $16.39 and its 200-day moving average is $12.20.

Insiders Place Their Bets

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of Lee Enterprises stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $15.00, for a total transaction of $1,065,000.00. Following the transaction, the insider now owns 30,205 shares in the company, valued at $453,075. The trade was a 70.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.40% of the company’s stock.

Institutional Trading of Lee Enterprises

A hedge fund recently raised its stake in Lee Enterprises stock. Wittenberg Investment Management Inc. increased its stake in shares of Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,755 shares of the company’s stock after acquiring an additional 14,715 shares during the period. Wittenberg Investment Management Inc. owned about 1.97% of Lee Enterprises worth $1,060,000 as of its most recent SEC filing. Institutional investors and hedge funds own 39.20% of the company’s stock.

Lee Enterprises Company Profile

Lee Enterprises, Incorporated provides local news and information, and advertising services in the United States. The company offers digital subscription platforms; daily, weekly, and monthly newspapers and niche publications; and web hosting and content management services. It also provides advertising and marketing services, such as audience extension, search engine optimization, search engine marketing, web and mobile production, social media services, and reputation monitoring and management.