Short Interest in Lee Enterprises, Incorporated (NYSE:LEE) Expands By 18.2%
Lee Enterprises, Incorporated (NYSE:LEE) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 3,003,900 shares, a growth of 18.2% from the June 15th total of 2,540,500 shares. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 338,400 shares, the days-to-cover ratio is presently 8.9 days.
Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new stake in Lee Enterprises during the first quarter worth approximately $52,000. First Trust Advisors LP grew its position in Lee Enterprises by 18.7% during the fourth quarter. First Trust Advisors LP now owns 93,629 shares of the company’s stock worth $198,000 after buying an additional 14,735 shares in the last quarter. Acadian Asset Management LLC grew its position in Lee Enterprises by 0.8% during the first quarter. Acadian Asset Management LLC now owns 1,160,446 shares of the company’s stock worth $3,829,000 after buying an additional 8,902 shares in the last quarter. Virtu Financial LLC acquired a new stake in Lee Enterprises during the first quarter worth approximately $69,000. Finally, Bank of New York Mellon Corp grew its position in Lee Enterprises by 76.6% during the fourth quarter. Bank of New York Mellon Corp now owns 337,022 shares of the company’s stock worth $711,000 after buying an additional 146,135 shares in the last quarter. 43.83% of the stock is currently owned by institutional investors and hedge funds.
Separately, TheStreet downgraded Hostess Brands from a “b” rating to a “f” rating in a research report on Thursday, July 18th.
About Lee Enterprises
Lee Enterprises, Incorporated provides local news and information, and advertising services in the United States. The company offers daily and community newspapers, news websites, mobile applications and news, and video products; and digital services, including Web hosting and content management. It also provides advertising and marketing services, such as retail, classified, national, and digital advertising services, as well as custom digital marketing services to small, medium sized, and large complex businesses.
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