Lee Enterprises (NYSE:LEE) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Lee Enterprises, Incorporated (NYSE:LEE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.31 and traded as high as $14.94. Lee Enterprises shares last traded at $14.65, with a volume of 18,243 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Lee Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Lee Enterprises Stock Performance

The firm has a market cap of $90.68 million, a PE ratio of -3.36 and a beta of 1.02. The business has a 50 day simple moving average of $16.44 and a two-hundred day simple moving average of $12.32. 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 at Lee Enterprises

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of the company’s 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 completion of the sale, the insider now directly owns 30,205 shares in the company, valued at approximately $453,075. This represents a 70.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lee Enterprises

A hedge fund recently raised its stake in Lee Enterprises stock. Wittenberg Investment Management Inc. boosted 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,755 shares of the company’s stock after purchasing an additional 14,715 shares during the quarter. Wittenberg Investment Management Inc. owned about 1.97% of Lee Enterprises worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 39.20% of the stock is currently owned by institutional investors.

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.