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

StockNews.com cut shares of Lee Enterprises (NYSE:LEE) from a buy rating to a hold rating in a report released on Tuesday.

Lee Enterprises Stock Down 0.7 %

Shares of LEE stock opened at $17.90 on Tuesday. The business has a 50 day moving average of $11.07 and a two-hundred day moving average of $11.26. Lee Enterprises has a 52 week low of $7.56 and a 52 week high of $19.63. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.87 and a current ratio of 0.92.

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

Insider Activity at Lee Enterprises

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of the company’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 transaction, the insider now owns 30,205 shares in the company, valued at approximately $453,075. This represents a 0.00 % decrease in their position. The transaction 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.

Hedge Funds Weigh In On Lee Enterprises

A hedge fund recently raised its stake in Lee Enterprises stock. Gamco Investors INC. ET AL lifted its holdings in Lee Enterprises, Incorporated (NYSE:LEE) by 94.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,150 shares of the company’s stock after purchasing an additional 72,600 shares during the quarter. Gamco Investors INC. ET AL owned 2.43% of Lee Enterprises worth $1,988,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.