Lee Enterprises (NYSE:LEE) Shares Pass Above Two Hundred Day Moving Average – Should You Sell?

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.07 and traded as high as $8.70. Lee Enterprises shares last traded at $8.32, with a volume of 25,118 shares.

Lee Enterprises Price Performance

The stock has a market cap of $185.04 million, a price-to-earnings ratio of -1.14 and a beta of 0.31. The company has a 50-day simple moving average of $8.63 and a two-hundred day simple moving average of $6.07. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78.

Insiders Place Their Bets

In related news, major shareholder Digital Ltd Quint purchased 2,451,346 shares of the stock in a transaction on Thursday, February 5th. The shares were purchased at an average price of $3.25 per share, with a total value of $7,966,874.50. Following the transaction, the insider directly owned 3,214,346 shares of the company’s stock, valued at $10,446,624.50. This trade represents a 321.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brent Magid sold 26,804 shares of Lee Enterprises stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $9.08, for a total value of $243,380.32. Following the transaction, the director owned 8,760 shares of the company’s stock, valued at $79,540.80. This represents a 75.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased 2,646,809 shares of company stock valued at $9,694,014 in the last 90 days. 54.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Teton Advisors LLC boosted its stake in shares of Lee Enterprises by 13.3% during the 4th quarter. Teton Advisors LLC now owns 17,000 shares of the company’s stock worth $81,000 after acquiring an additional 2,000 shares during the period. Gabelli Funds LLC boosted its stake in shares of Lee Enterprises by 2.2% during the 2nd quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock worth $1,296,000 after acquiring an additional 4,389 shares during the period. Murphy Pohlad Asset Management LLC bought a new position in shares of Lee Enterprises during the 3rd quarter worth approximately $66,000. Jane Street Group LLC bought a new position in shares of Lee Enterprises during the 2nd quarter worth approximately $86,000. Finally, DRW Securities LLC bought a new position in shares of Lee Enterprises during the 4th quarter worth approximately $99,000. 39.20% of the stock is currently owned by institutional investors.

About Lee Enterprises

Lee Enterprises, Inc is a publicly traded media company based in Davenport, Iowa, with a heritage dating back to 1890 when Alfred W. Lee acquired the Davenport Times-Democrat. Over the decades, the company has grown through acquisitions and organic expansion to become one of the largest regional news publishers in the United States. Lee Enterprises’ shares trade on the New York Stock Exchange under the ticker symbol LEE.

The company’s principal activities center on the production and distribution of local journalism across print and digital channels.