Digital Ltd Quint Purchases 2,451,346 Shares of Lee Enterprises (NYSE:LEE) Stock

Lee Enterprises, Incorporated (NYSE:LEE) major shareholder Digital Ltd Quint acquired 2,451,346 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $7,966,874.50. Following the completion of the acquisition, the insider owned 3,214,346 shares in the company, valued at $10,446,624.50. The trade was a 321.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Lee Enterprises Stock Up 6.5%

LEE stock opened at $5.59 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 69.34. The firm has a 50-day moving average of $4.66 and a two-hundred day moving average of $4.59. Lee Enterprises, Incorporated has a 12 month low of $3.34 and a 12 month high of $11.82. The company has a market cap of $35.00 million, a price-to-earnings ratio of -0.77 and a beta of 0.55.

Hedge Funds Weigh In On Lee Enterprises

Institutional investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position in shares of Lee Enterprises by 23.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock valued at $2,881,000 after purchasing an additional 115,779 shares during the period. Royal Bank of Canada lifted its position in Lee Enterprises by 15,715.8% during the first quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after buying an additional 28,917 shares during the period. Gabelli Funds LLC boosted its stake in Lee Enterprises by 9.5% in the 4th quarter. Gabelli Funds LLC now owns 226,800 shares of the company’s stock worth $1,086,000 after buying an additional 19,700 shares during the last quarter. Teton Advisors LLC purchased a new stake in Lee Enterprises in the 3rd quarter valued at about $82,000. Finally, Wittenberg Investment Management Inc. increased its stake in shares of Lee Enterprises by 20.1% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 85,043 shares of the company’s stock valued at $544,000 after acquiring an additional 14,262 shares during the last quarter. 39.20% of the stock is owned by institutional investors and hedge funds.

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.