Lee Enterprises (NYSE:LEE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Lee Enterprises, Incorporated (NYSE:LEE)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $12.54 and traded as high as $12.55. Lee Enterprises shares last traded at $12.15, with a volume of 47,078 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Lee Enterprises from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Lee Enterprises Price Performance

The company has a market cap of $79.11 million, a price-to-earnings ratio of -2.93 and a beta of 1.07. The company has a 50-day simple moving average of $15.15 and a 200-day simple moving average of $12.54. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.80 and a current ratio of 0.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Lee Enterprises during the 4th quarter valued at approximately $214,000. Wittenberg Investment Management Inc. raised its holdings in Lee Enterprises by 13.7% during the third quarter. Wittenberg Investment Management Inc. now owns 121,755 shares of the company’s stock worth $1,060,000 after purchasing an additional 14,715 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Lee Enterprises by 11.7% during the second quarter. Gabelli Funds LLC now owns 123,441 shares of the company’s stock worth $1,371,000 after purchasing an additional 12,900 shares in the last quarter. 39.20% of the stock is currently owned by institutional investors and hedge funds.

About Lee Enterprises

Lee Enterprises, Incorporated provides local news and information, and advertising services in the United States. The company offers digital subscription platforms; daily, weekly, and monthly newspapers and niche publications; and web hosting and content management services. It also provides advertising and marketing services, such as audience extension, search engine optimization, search engine marketing, web and mobile production, social media services, and reputation monitoring and management.