Lee Enterprises (NYSE:LEE) Downgraded to “Hold” Rating by StockNews.com

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

Lee Enterprises Trading Down 6.3 %

Shares of LEE opened at $14.98 on Wednesday. The stock’s fifty day simple moving average is $16.39 and its 200-day simple moving average is $12.20. The firm has a market capitalization of $92.74 million, a PE ratio of -5.01 and a beta of 1.02. Lee Enterprises has a 12-month low of $7.56 and a 12-month high of $19.63. The company has a quick ratio of 0.87, a current ratio of 0.92 and a debt-to-equity ratio of 69.34.

Insider Activity

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 30,205 shares of the company’s stock, valued at approximately $453,075. This trade represents a 70.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.40% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lee Enterprises stock. Gabelli Funds LLC raised its stake in Lee Enterprises, Incorporated (NYSE:LEE) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,441 shares of the company’s stock after buying an additional 12,900 shares during the quarter. Gabelli Funds LLC owned 2.01% of Lee Enterprises worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission. 39.20% of the stock is currently owned by institutional investors.

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.