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In a recent transaction, Steven C. Fletcher, a director at Lee Enterprises Inc. (NASDAQ:LEE), acquired 1,000 shares of the company’s common stock. The purchase, executed on February 19, 2025, was made at a weighted average price of $11.57 per share, totaling $11,570. According to InvestingPro data, this purchase price sits slightly above the current market price of $11.30, with the stock showing mixed performance - down over 20% year-to-date but up more than 30% over the past six months. Following this transaction, Fletcher holds 8,000 shares indirectly through the Fletcher Family Trust.
This acquisition follows a correction of a previous filing error related to Fletcher’s share ownership. The adjustment was necessary to accurately reflect the number of shares beneficially owned, both directly and indirectly, by Fletcher.
In other recent news, Lee Enterprises reported a significant earnings miss for Q3 2024, with earnings per share (EPS) coming in at -$1.69, falling short of the expected $0.65. This substantial discrepancy has raised investor concerns despite the company’s strong digital revenue growth, which now surpasses print revenue. Total (EPA:TTEF) operating revenue for the quarter was $151 million, with adjusted EBITDA reported at $15 million. Digital revenue saw a 9% increase, while print revenue declined by 22% year-over-year. In another development, Lee Enterprises disclosed a cybersecurity breach that disrupted operations and caused delays in the distribution of its print publications. The company has activated an incident response team and is conducting a forensic investigation to determine if sensitive data was compromised. The financial impact of the breach is still being assessed, but Lee Enterprises has a cybersecurity insurance policy expected to cover associated costs. Investors are closely monitoring these developments as the company continues its digital transformation efforts.
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