Lee Enterprises Inc. (LEE) Cut to Hold at Zacks Investment Research
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. “
Shares of Lee Enterprises (NYSE:LEE) opened at 3.11 on Wednesday. Lee Enterprises has a one year low of $1.15 and a one year high of $3.92. The firm has a market cap of $173.45 million, a price-to-earnings ratio of 3.79 and a beta of 1.92. The company has a 50 day moving average of $3.25 and a 200-day moving average of $2.31.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Spark Investment Management LLC raised its position in shares of Lee Enterprises by 10.8% in the second quarter. Spark Investment Management LLC now owns 52,400 shares of the company’s stock worth $100,000 after buying an additional 5,100 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lee Enterprises by 3.7% in the second quarter. Vanguard Group Inc. now owns 1,687,748 shares of the company’s stock worth $3,223,000 after buying an additional 60,830 shares during the last quarter. Alambic Investment Management L.P. raised its position in shares of 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. Phoenix Investment Adviser LLC acquired a new position in shares of Lee Enterprises during the second quarter worth about $229,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Lee Enterprises during the second quarter worth about $2,125,000. Institutional investors and hedge funds own 31.41% of the company’s stock.
Lee Enterprises Company Profile
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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