Solas Capital Management LLC Acquires Shares of 1,549,944 Lee Enterprises, Incorporated $LEE

Solas Capital Management LLC acquired a new stake in shares of Lee Enterprises, Incorporated (NYSE:LEE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,549,944 shares of the company’s stock, valued at approximately $13,733,000. Lee Enterprises comprises about 7.4% of Solas Capital Management LLC’s portfolio, making the stock its 5th largest holding. Solas Capital Management LLC owned about 6.97% of Lee Enterprises as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Deutsche Bank AG bought a new stake in shares of Lee Enterprises in the second quarter worth about $59,000. Teton Advisors LLC raised its position in Lee Enterprises by 13.3% during the 4th 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. Jane Street Group LLC purchased a new stake in Lee Enterprises in the 2nd quarter worth approximately $86,000. DRW Securities LLC purchased a new stake in Lee Enterprises in the 4th quarter worth approximately $99,000. Finally, Royal Bank of Canada grew its position in shares of Lee Enterprises by 15,715.8% in the 1st quarter. Royal Bank of Canada now owns 29,101 shares of the company’s stock worth $302,000 after buying an additional 28,917 shares during the last quarter. 39.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lee Enterprises

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 value of $235,680.00. Following the sale, the director owned 23,037 shares in the company, valued at $226,223.34. The trade was a 51.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David Henry Hoffmann acquired 6,925 shares of Lee Enterprises stock in a transaction on Monday, June 8th. The shares were bought at an average cost of $10.86 per share, for a total transaction of $75,205.50. Following the completion of the transaction, the director owned 11,517,242 shares in the company, valued at approximately $125,077,248.12. This trade represents a 0.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 54.20% of the company’s stock.

Lee Enterprises Price Performance

Shares of LEE stock opened at $8.23 on Tuesday. The company has a debt-to-equity ratio of 69.34, a quick ratio of 0.72 and a current ratio of 0.78. Lee Enterprises, Incorporated has a fifty-two week low of $3.34 and a fifty-two week high of $11.88. The firm has a market cap of $183.46 million, a P/E ratio of -1.13 and a beta of 0.35. The business’s 50 day moving average price is $8.36 and its 200-day moving average price is $8.54.

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.