Lee Enterprises (NYSE:LEE) Stock Rating Lowered by StockNews.com

Lee Enterprises (NYSE:LEE) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Lee Enterprises Price Performance

Shares of NYSE:LEE traded down $1.01 during trading on Wednesday, hitting $14.98. 20,660 shares of the stock were exchanged, compared to its average volume of 30,016. The company has a market cap of $92.74 million, a PE ratio of -5.01 and a beta of 1.02. 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 company has a fifty day moving average price of $16.39 and a two-hundred day moving average price of $12.20. Lee Enterprises has a 12-month low of $7.56 and a 12-month high of $19.63.

Insider Buying and Selling at Lee Enterprises

In other news, major shareholder Raghav Nath Bahl sold 71,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 30,205 shares of the company’s stock, valued at $453,075. This trade represents a 70.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lee Enterprises

A hedge fund recently raised its stake in Lee Enterprises stock. Wittenberg Investment Management Inc. grew its stake in Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,755 shares of the company’s stock after acquiring an additional 14,715 shares during the quarter. Wittenberg Investment Management Inc. owned about 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 and hedge funds.

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.