Lee Enterprises (NYSE:LEE) Major Shareholder Acquires $7,966,874.50 in Stock

Lee Enterprises, Incorporated (NYSE:LEE) major shareholder Digital Ltd Quint bought 2,451,346 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $3.25 per share, for a total transaction of $7,966,874.50. Following the completion of the transaction, the insider owned 3,214,346 shares of the company’s stock, valued at approximately $10,446,624.50. The trade was a 321.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lee Enterprises Trading Up 6.5%

NYSE:LEE opened at $5.59 on Wednesday. The stock has a market cap of $35.00 million, a price-to-earnings ratio of -0.77 and a beta of 0.55. Lee Enterprises, Incorporated has a one year low of $3.34 and a one year high of $11.82. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. The business’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $4.59.

Institutional Trading of Lee Enterprises

A number of hedge funds have recently made changes to their positions in the stock. Teton Advisors LLC grew its position in shares of Lee Enterprises by 13.3% in 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 in the last quarter. Gabelli Funds LLC lifted its stake in Lee Enterprises by 2.2% during the second quarter. Gabelli Funds LLC now owns 202,482 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,389 shares during the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in Lee Enterprises in the third quarter worth $66,000. Jane Street Group LLC bought a new stake in Lee Enterprises during the second quarter valued at $86,000. Finally, Wittenberg Investment Management Inc. increased its stake in Lee Enterprises by 20.1% during the second quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock valued at $544,000 after purchasing an additional 14,262 shares during the last quarter. Institutional investors and hedge funds own 39.20% of the company’s stock.

Lee Enterprises Company Profile

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.