Lee Enterprises (NYSE:LEE) Upgraded by StockNews.com to “Buy” Rating

Lee Enterprises (NYSE:LEE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Lee Enterprises Stock Performance

Shares of LEE stock opened at $16.41 on Friday. The business has a 50-day simple moving average of $12.66 and a 200-day simple moving average of $11.55. Lee Enterprises has a 52-week low of $7.56 and a 52-week high of $19.63. The stock has a market cap of $101.58 million, a PE ratio of -5.49 and a beta of 1.07. 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 Buying and Selling

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $15.00, for a total value of $1,065,000.00. Following the sale, the insider now directly owns 30,205 shares in the company, 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 is accessible through the SEC website. 11.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lee Enterprises

A number of hedge funds and other institutional investors have recently made changes to their positions in LEE. Gabelli Funds LLC boosted its holdings in Lee Enterprises by 92.2% in the 1st quarter. Gabelli Funds LLC now owns 110,541 shares of the company’s stock valued at $1,474,000 after purchasing an additional 53,041 shares in the last quarter. 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 valued at $1,060,000 after acquiring an additional 14,715 shares during the period. Finally, Gamco Investors INC. ET AL raised its position 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 worth $1,988,000 after purchasing an additional 72,600 shares during the last quarter. Hedge funds and other institutional investors 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.