Key Points
- Lee Enterprises director Herbert Moloney III sold 24,000 shares on June 11 at an average price of $9.82, totaling about $235,680. After the sale, he still held 23,037 shares.
- The transaction cut Moloney’s ownership stake by 51.02%, and it was disclosed in a filing with the SEC.
- LEE stock fell 4.0% as the article noted the shares opened at $9.88, with the company carrying a small market cap and relatively high debt-to-equity ratio.
Lee Enterprises, Incorporated (NYSE:LEE - Get Free Report) Director Herbert Moloney III sold 24,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $9.82, for a total transaction of $235,680.00. Following the completion of the sale, the director owned 23,037 shares in the company, valued at $226,223.34. This represents a 51.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lee Enterprises Stock Down 4.0%
LEE stock opened at $9.88 on Friday. The company's 50 day simple moving average is $9.05 and its 200-day simple moving average is $7.12. The firm has a market capitalization of $219.63 million, a PE ratio of -1.36 and a beta of 0.31. Lee Enterprises, Incorporated has a 12 month low of $3.34 and a 12 month high of $11.88. The company has a debt-to-equity ratio of 69.34, a current ratio of 0.78 and a quick ratio of 0.72.
Institutional Trading of Lee Enterprises
Several large investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in shares of Lee Enterprises in the first quarter valued at approximately $430,000. DRW Securities LLC acquired a new stake in shares of Lee Enterprises in the fourth quarter valued at approximately $99,000. 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 last quarter. Teton Advisors LLC grew its position in shares of Lee Enterprises by 13.3% in the fourth quarter. Teton Advisors LLC now owns 17,000 shares of the company's stock valued at $81,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Lee Enterprises by 9.5% in the fourth quarter. Gabelli Funds LLC now owns 226,800 shares of the company's stock valued at $1,086,000 after purchasing an additional 19,700 shares during the last quarter. 39.20% of the stock is currently owned by institutional investors and hedge funds.
About Lee Enterprises
(
Get Free Report)
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.
Further Reading
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