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

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

Lee Enterprises Stock Performance

Lee Enterprises stock opened at $14.99 on Wednesday. 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 stock has a market cap of $92.80 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 business’s 50-day moving average price is $16.41 and its two-hundred day moving average price is $12.22.

Insider Activity at Lee Enterprises

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 sale, 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 document filed with the SEC, which can be accessed through the SEC website. 11.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lee Enterprises stock. Wittenberg Investment Management Inc. raised its holdings in Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 121,755 shares of the company’s stock after acquiring an additional 14,715 shares during the quarter. Wittenberg Investment Management Inc. owned approximately 1.97% of Lee Enterprises worth $1,060,000 as of its most recent SEC filing. Institutional investors 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.