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.

Analyst Upgrades and Downgrades

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

Lee Enterprises Stock Performance

The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.87 and a current ratio of 0.92. The stock has a market cap of $90.68 million, a PE ratio of -3.36 and a beta of 1.02. The firm has a fifty day moving average price of $16.44 and a 200 day moving average price of $12.32.

Insider Buying and Selling at Lee Enterprises

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of Lee Enterprises 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 completion of the sale, the insider now directly owns 30,205 shares in the company, valued at approximately $453,075. The trade was a 70.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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

An institutional investor recently raised its position in Lee Enterprises stock. Wittenberg Investment Management Inc. grew its position in Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 121,755 shares of the company’s stock after purchasing an additional 14,715 shares during the period. Wittenberg Investment Management Inc. owned approximately 1.97% of Lee Enterprises worth $1,060,000 at the end of the most recent quarter. 39.20% of the stock is 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.