Wittenberg Investment Management Inc. Boosts Holdings in Lee Enterprises, Incorporated (NYSE:LEE)

Wittenberg Investment Management Inc. grew its stake in shares of Lee Enterprises, Incorporated (NYSE:LEE) by 13.7% during the third quarter, HoldingsChannel reports. The firm owned 121,755 shares of the company’s stock after purchasing an additional 14,715 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Lee Enterprises were worth $1,060,000 at the end of the most recent quarter.

Separately, Gabelli Funds LLC boosted its position in Lee Enterprises by 92.2% during the 1st quarter. Gabelli Funds LLC now owns 110,541 shares of the company’s stock valued at $1,474,000 after acquiring an additional 53,041 shares in the last quarter. Hedge funds and other institutional investors own 39.20% of the company’s stock.

Insider Transactions at Lee Enterprises

In related news, major shareholder Raghav Nath Bahl sold 71,000 shares of Lee Enterprises stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $15.00, for a total transaction of $1,065,000.00. Following the completion of the transaction, the insider now directly owns 30,205 shares of the company’s stock, valued at $453,075. This trade represents a 70.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Lee Enterprises from a “hold” rating to a “buy” rating in a research report on Friday, November 15th.

Lee Enterprises Price Performance

LEE opened at $16.75 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.87 and a debt-to-equity ratio of 69.34. The company has a market cap of $103.68 million, a price-to-earnings ratio of -5.60 and a beta of 1.07. The stock has a fifty day simple moving average of $13.79 and a two-hundred day simple moving average of $11.72. Lee Enterprises, Incorporated has a 12-month low of $7.56 and a 12-month high of $19.63.

Lee Enterprises Company Profile

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.