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

Lee Enterprises, Incorporated (NYSE:LEE) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.08 and traded as high as $19.63. Lee Enterprises shares last traded at $16.77, with a volume of 150,393 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Lee Enterprises in a research report on Sunday, October 6th. They set a “buy” rating on the stock.

Lee Enterprises Trading Down 6.8 %

The company’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $11.08. 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 company has a market capitalization of $103.02 million, a price-to-earnings ratio of -8.34 and a beta of 1.21.

Lee Enterprises (NYSE:LEE) last announced its earnings results on Thursday, August 1st. The company reported ($0.73) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($1.41). The business had revenue of $150.58 million for the quarter, compared to analyst estimates of $165.48 million. Lee Enterprises had a negative net margin of 2.88% and a negative return on equity of 112.98%. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, research analysts anticipate that Lee Enterprises, Incorporated will post -2.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were 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 $453,075. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Lee Enterprises

A hedge fund recently raised its position in Lee Enterprises stock. Gamco Investors INC. ET AL lifted its stake in Lee Enterprises, Incorporated (NYSE:LEE) by 94.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 149,150 shares of the company’s stock after buying an additional 72,600 shares during the quarter. Gamco Investors INC. ET AL owned approximately 2.43% of Lee Enterprises worth $1,988,000 as of its most recent SEC filing. 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.