Cannell Capital LLC Invests $3.09 Million in Lee Enterprises, Incorporated $LEE

Cannell Capital LLC purchased a new stake in Lee Enterprises, Incorporated (NYSE:LEE) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 344,349 shares of the company’s stock, valued at approximately $3,085,367. Lee Enterprises accounts for approximately 0.0% of Cannell Capital LLC’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LEE. Solas Capital Management LLC purchased a new stake in shares of Lee Enterprises in the second quarter worth about $13,733,000. Gamco Investors INC. ET AL raised its holdings in shares of Lee Enterprises by 23.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 601,454 shares of the company’s stock valued at $2,881,000 after buying an additional 115,779 shares during the period. BlackRock Inc. purchased a new stake in shares of Lee Enterprises during the 2nd quarter valued at about $3,259,000. Deutsche Bank AG acquired a new position in Lee Enterprises during the 2nd quarter worth approximately $59,000. Finally, Private Advisor Group LLC purchased a new position in Lee Enterprises in the 1st quarter worth approximately $430,000. 39.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Herbert W. Moloney III sold 24,000 shares of Lee Enterprises stock in a transaction 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 sale, the director owned 23,037 shares of the company’s stock, valued at $226,223.34. The trade was a 51.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Henry Hoffmann acquired 6,925 shares of the business’s stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $10.86 per share, for a total transaction of $75,205.50. Following the acquisition, the director directly owned 11,517,242 shares in the company, valued at $125,077,248.12. This represents a 0.06% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 54.20% of the stock is currently owned by company insiders.

Lee Enterprises Stock Up 1.3%

Shares of NYSE:LEE opened at $8.37 on Friday. The company has a market capitalization of $186.58 million, a price-to-earnings ratio of -1.15 and a beta of 0.35. The company has a 50 day moving average of $8.29 and a two-hundred day moving average of $8.59. Lee Enterprises, Incorporated has a 52-week low of $3.34 and a 52-week high of $11.88. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 69.34.

About Lee Enterprises

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.