Lee Enterprises Inc. (NYSE:LEE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “LEE ENTERPRISES, INC. is a premier publisher of local news, information and advertising in primarily midsize markets, with 50 daily newspapers and a joint interest in four others, rapidly growing online sites and more than 300 weekly newspapers and specialty publications in 23 states. Lee’s newspapers have circulation of 1.6 million daily and 1.9 million Sunday, reaching more than four million readers daily. Lee’s online sites attract 12 million unique visitors monthly, and Lee’s weekly publications have distribution of more than 4.5 million households. Lee’s other newspaper markets include St. Louis, Mo.; Lincoln, Neb.; Madison, Wis.; Davenport, Iowa; Billings, Mont.; Bloomington, Ill.; and Tucson, Ariz. “
Lee Enterprises (NYSE:LEE) opened at 3.61 on Wednesday. The firm has a 50-day moving average price of $3.22 and a 200-day moving average price of $2.29. Lee Enterprises has a 12-month low of $1.15 and a 12-month high of $3.92. The stock has a market cap of $201.33 million, a PE ratio of 4.40 and a beta of 1.93.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. North Star Investment Management Corp. boosted its position in Lee Enterprises by 65.3% in the second quarter. North Star Investment Management Corp. now owns 663,000 shares of the company’s stock worth $1,266,000 after buying an additional 262,000 shares during the last quarter. Acadian Asset Management LLC boosted its position in Lee Enterprises by 15.7% in the second quarter. Acadian Asset Management LLC now owns 295,345 shares of the company’s stock worth $563,000 after buying an additional 40,117 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Lee Enterprises during the second quarter worth about $2,125,000. Phoenix Investment Adviser LLC acquired a new position in Lee Enterprises during the second quarter worth about $229,000. Finally, Alambic Investment Management L.P. boosted its position in Lee Enterprises by 17.5% in the second quarter. Alambic Investment Management L.P. now owns 108,641 shares of the company’s stock worth $208,000 after buying an additional 16,189 shares during the last quarter. 31.41% of the stock is owned by hedge funds and other institutional investors.
About Lee Enterprises
Lee Enterprises, Incorporated is a provider of local news and information, and a platform for advertising. The Company’s products include approximately 50 daily and approximately 38 Sunday newspapers with print and digital subscribers. The Company offers approximately 300 weekly newspapers, and classified and niche publications.
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