Lee Enterprises (NYSE:LEE) Downgraded by StockNews.com to Hold

Lee Enterprises (NYSE:LEE) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Lee Enterprises Stock Performance

LEE stock traded down $1.01 during trading on Wednesday, hitting $14.98. The company had a trading volume of 20,660 shares, compared to its average volume of 30,016. The firm has a 50-day moving average price of $16.39 and a 200-day moving average price of $12.20. 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 firm has a market cap of $92.74 million, a PE ratio of -5.01 and a beta of 1.02. Lee Enterprises has a 1-year low of $7.56 and a 1-year high of $19.63.

Insider Transactions at Lee Enterprises

In other Lee Enterprises news, major shareholder Raghav Nath Bahl sold 71,000 shares of Lee Enterprises stock in a transaction that occurred on 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 sale, the insider now owns 30,205 shares of the company’s stock, valued at approximately $453,075. The trade was a 70.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.40% of the company’s stock.

Hedge Funds Weigh In On Lee Enterprises

A hedge fund recently raised its stake in Lee Enterprises stock. Gabelli Funds LLC boosted its holdings in Lee Enterprises, Incorporated (NYSE:LEE) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,441 shares of the company’s stock after acquiring an additional 12,900 shares during the quarter. Gabelli Funds LLC owned about 2.01% of Lee Enterprises worth $1,371,000 as of its most recent filing with the SEC. 39.20% of the stock is currently 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.