Lee Enterprises (NYSE:LEE) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Lee Enterprises (NYSE:LEE) from a hold rating to a buy rating in a research note released on Friday morning.

Lee Enterprises Trading Down 9.8 %

NYSE LEE opened at $14.70 on Friday. The stock has a market capitalization of $90.99 million, a P/E ratio of -4.95 and a beta of 1.07. Lee Enterprises has a one year low of $7.56 and a one year high of $19.63. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.92 and a quick ratio of 0.87. The business has a 50 day simple moving average of $13.00 and a 200 day simple moving average of $11.60.

Insider Buying and Selling at Lee Enterprises

In related news, major shareholder Raghav Nath Bahl sold 71,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $15.00, for a total value of $1,065,000.00. Following the sale, the insider now owns 30,205 shares in the company, valued at $453,075. This represents a 70.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.40% of the company’s stock.

Hedge Funds Weigh In On Lee Enterprises

A number of hedge funds have recently added to or reduced their stakes in LEE. Wittenberg Investment Management Inc. lifted its position in shares of Lee Enterprises by 13.7% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 121,755 shares of the company’s stock worth $1,060,000 after buying an additional 14,715 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Lee Enterprises by 11.7% during the 2nd quarter. Gabelli Funds LLC now owns 123,441 shares of the company’s stock worth $1,371,000 after acquiring an additional 12,900 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Lee Enterprises by 94.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 149,150 shares of the company’s stock valued at $1,988,000 after buying an additional 72,600 shares in the last quarter. Institutional investors and hedge funds own 39.20% of the company’s stock.

About Lee Enterprises

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.