StockNews.com Upgrades Lee Enterprises (NYSE:LEE) to “Buy”

Lee Enterprises (NYSE:LEE) was upgraded by stock 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

LEE stock opened at $16.41 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 69.34. The firm has a market cap of $101.58 million, a P/E ratio of -5.49 and a beta of 1.07. Lee Enterprises has a 12-month low of $7.56 and a 12-month high of $19.63. The stock’s 50 day simple moving average is $12.66 and its 200 day simple moving average is $11.55.

Insider Activity at Lee Enterprises

In related news, major shareholder Raghav Nath Bahl sold 71,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $453,075. This represents a 70.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.40% of the company’s stock.

Institutional Investors Weigh In On Lee Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its holdings in Lee Enterprises by 94.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 149,150 shares of the company’s stock valued at $1,988,000 after buying an additional 72,600 shares during the last quarter. Gabelli Funds LLC raised its position in Lee Enterprises by 11.7% in the 2nd quarter. Gabelli Funds LLC now owns 123,441 shares of the company’s stock valued at $1,371,000 after purchasing an additional 12,900 shares during the last quarter. Finally, Wittenberg Investment Management Inc. raised its position in shares of Lee Enterprises by 13.7% during the third quarter. Wittenberg Investment Management Inc. now owns 121,755 shares of the company’s stock worth $1,060,000 after acquiring an additional 14,715 shares during the last quarter. 39.20% of the stock is owned by hedge funds and other 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.