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

StockNews.com upgraded shares of Lee Enterprises (NYSE:LEE - Free Report) from a hold rating to a buy rating in a research note released on Friday morning.

Lee Enterprises Trading Up 1.1 %

Shares of LEE stock traded up $0.18 during trading hours on Friday, hitting $16.59. The company had a trading volume of 96,582 shares, compared to its average volume of 30,135. The stock has a market capitalization of $102.69 million, a PE ratio of -5.02 and a beta of 1.07. Lee Enterprises has a fifty-two week low of $7.56 and a fifty-two week high of $19.63. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.92 and a quick ratio of 0.87. The company's fifty day moving average is $12.66 and its 200 day moving average is $11.55.

Insiders Place Their Bets

In related news, major shareholder Raghav Nath Bahl sold 71,000 shares of the firm's stock in a transaction dated Tuesday, October 15th. The shares were 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 owns 30,205 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 11.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wittenberg Investment Management Inc. lifted its stake in Lee Enterprises by 13.7% during the third quarter. Wittenberg Investment Management Inc. now owns 121,755 shares of the company's stock valued at $1,060,000 after buying an additional 14,715 shares in the last quarter. Gabelli Funds LLC grew its holdings in Lee Enterprises by 11.7% during the second 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, Gamco Investors INC. ET AL grew its stake in shares of Lee Enterprises by 94.8% in the first quarter. Gamco Investors INC. ET AL now owns 149,150 shares of the company's stock worth $1,988,000 after acquiring an additional 72,600 shares during the last quarter. 39.20% of the stock is owned by institutional investors and hedge funds.

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.