Algert Global LLC decreased its position in Lee Enterprises Inc. (NYSE:LEE) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 486,047 shares of the company’s stock after selling 17,448 shares during the period. Algert Global LLC’s holdings in Lee Enterprises were worth $1,823,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of LEE. Spark Investment Management LLC increased its stake in Lee Enterprises by 10.8% in the second quarter. Spark Investment Management LLC now owns 52,400 shares of the company’s stock worth $100,000 after buying an additional 5,100 shares during the period. Alambic Investment Management L.P. increased its stake in Lee Enterprises by 17.5% in the second quarter. Alambic Investment Management L.P. now owns 108,641 shares of the company’s stock worth $208,000 after buying an additional 16,189 shares during the period. Phoenix Investment Adviser LLC bought a new stake in Lee Enterprises during the second quarter worth about $229,000. Acadian Asset Management LLC increased its stake in Lee Enterprises by 15.7% in the second quarter. Acadian Asset Management LLC now owns 295,345 shares of the company’s stock worth $563,000 after buying an additional 40,117 shares during the period. Finally, North Star Investment Management Corp. increased its stake in Lee Enterprises by 65.3% in the second quarter. North Star Investment Management Corp. now owns 663,000 shares of the company’s stock worth $1,266,000 after buying an additional 262,000 shares during the period. 31.41% of the stock is currently owned by institutional investors.
Shares of Lee Enterprises Inc. (NYSE:LEE) opened at 3.19 on Thursday. Lee Enterprises Inc. has a 52 week low of $1.15 and a 52 week high of $3.92. The company’s 50-day moving average is $3.28 and its 200 day moving average is $2.33. The stock has a market capitalization of $177.91 million, a P/E ratio of 3.89 and a beta of 1.93.
Separately, Zacks Investment Research raised shares of Lee Enterprises from a “hold” rating to a “buy” rating and set a $2.25 price target on the stock in a research note on Tuesday, August 9th.
About Lee Enterprises
Lee Enterprises, Incorporated is a provider of local news and information, and a platform for advertising. The Company’s products include approximately 50 daily and approximately 38 Sunday newspapers with print and digital subscribers. The Company offers approximately 300 weekly newspapers, and classified and niche publications.
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