Lee Enterprises (NYSE:LEE) Stock Falls 5.9% – Should You Sell?

Lee Enterprises, Incorporated (NYSE:LEE) shares fell 5.9% on Friday. The stock traded as low as $6.59 and last traded at $6.59. Approximately 17,544 shares changed hands during trading, a decline of 71% from the average daily volume of 60,517 shares. The stock had previously closed at $7.00.

Lee Enterprises Price Performance

The stock’s 50 day moving average is $7.03 and its two-hundred day moving average is $8.00. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. The stock has a market capitalization of $146.90 million, a PE ratio of -0.91 and a beta of 0.45.

Institutional Trading of Lee Enterprises

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Lee Enterprises during the 2nd quarter valued at about $3,259,000. Cannell Capital LLC acquired a new position in shares of Lee Enterprises in the 2nd quarter valued at $3,085,367. State of Wyoming acquired a new position in shares of Lee Enterprises in the 3rd quarter valued at $287,000. NewEdge Advisors LLC purchased a new position in shares of Lee Enterprises during the 2nd quarter worth $113,000. Finally, Deutsche Bank AG purchased a new position in Lee Enterprises during the second quarter worth about $59,000. Institutional investors and hedge funds own 39.20% of the company’s stock.

About Lee Enterprises

Lee Enterprises, Inc is a media company that publishes local newspapers and operates digital news and information platforms. Its products include daily and weekly newspapers, news websites, mobile applications, email newsletters, magazines and other specialty publications. The company also provides advertising, marketing and audience-engagement services to businesses and organizations.

Lee serves communities primarily across the United States, with local media operations covering regional news, business, sports, government, lifestyle and other topics.