SCHEDULE 13D/A: Gabelli Group Increases Stake in Lee Enterprises to 9.33% with Recent Share Purchases
Amendment to Beneficial Ownership Statement
An investment group led by GAMCO Investors, Inc. and Mario Gabelli has increased its beneficial ownership in Lee Enterprises, Inc. to 9.33% through recent share acquisitions.
Summary
- The filing is an Amendment No. 4 to Schedule 13D, reporting changes in beneficial ownership of Common Stock, par value $.01 per share, of LEE ENTERPRISES, Inc.
- The aggregate number of securities beneficially owned by the reporting persons is 577,346 shares, representing 9.33% of the 6,190,328 shares outstanding as reported in Lee Enterprises' most recently filed Form 10-Q for the quarterly period ended December 31, 2024.
- Key reporting entities and their beneficial ownership include Gabelli Funds LLC with 183,500 shares (2.96%), GAMCO Asset Management Inc. with 370,746 shares (5.99%), Teton Advisors, Inc. with 15,100 shares (0.24%), and Gabelli Foundation, Inc. with 8,000 shares (0.13%).
- The reporting persons used approximately $809,918 to purchase additional securities since the most recent Schedule 13D filing.
- Specific purchases were made by Gabelli Foundation, Inc., Gabelli Funds, LLC (through Gabelli Enterprise M&A Fund and Gabelli Multimedia Trust), and GAMCO Asset Management Inc. between December 9, 2024, and January 21, 2025, at prices ranging from $12.1009 to $16.0000 per share.
Sentiment
Score: 6
Explanation: The document reports a factual increase in beneficial ownership by a significant investment group, which is generally viewed as a positive signal of confidence, though no explicit sentiment is expressed.
Positives
- The investment group, including GAMCO Investors, Inc. and its affiliates, increased its beneficial ownership in Lee Enterprises, Inc., indicating continued confidence in the company.
- The group acquired additional shares totaling approximately $809,918, demonstrating a financial commitment to their position.
Future Outlook
NA
Industry Context
NA
Stakeholder Impact
- Shareholders: The increased stake by a prominent investment group may be perceived positively, potentially signaling confidence in the company's value or future prospects.
Key Dates
| Date | Description |
|---|---|
| 2024-12-09 | Gabelli Multimedia Trust purchased 448 shares at $16.0000. |
| 2024-12-12 | Gabelli Foundation, Inc. purchased 2,784 shares at $14.0618. |
| 2024-12-13 | GAMCO Asset Management Inc. purchased 200 shares at $15.8800. |
| 2024-12-18 | Gabelli Foundation, Inc. purchased 2,216 shares at $15.4000; GAMCO Asset Management Inc. purchased 1,714 shares at $14.8500. |
| 2024-12-19 | GAMCO Asset Management Inc. purchased 8,286 shares at $14.8149. |
| 2024-12-20 | GAMCO Asset Management Inc. purchased 100 shares at $14.8000. |
| 2024-12-23 | Gabelli Multimedia Trust purchased 5,300 shares at $14.9227; GAMCO Asset Management Inc. purchased 4,400 shares at $14.9889. |
| 2024-12-24 | GAMCO Asset Management Inc. purchased 100 shares at $14.8000 and 3,600 shares at $14.9900. |
| 2024-12-27 | GAMCO Asset Management Inc. purchased 2,000 shares at $14.5200. |
| 2024-12-30 | GAMCO Asset Management Inc. purchased 600 shares at $14.4880. |
| 2025-01-02 | GAMCO Asset Management Inc. purchased 400 shares at $14.0000. |
| 2025-01-03 | GAMCO Asset Management Inc. purchased 550 shares at $13.9409. |
| 2025-01-08 | GAMCO Asset Management Inc. purchased 413 shares at $13.7500. |
| 2025-01-13 | GAMCO Asset Management Inc. purchased 51 shares at $13.8000. |
| 2025-01-14 | GAMCO Asset Management Inc. purchased 736 shares at $13.7737. |
| 2025-01-16 | Gabelli Foundation, Inc. purchased 2,891 shares at $12.5500. |
| 2025-01-17 | Gabelli Foundation, Inc. purchased 109 shares at $12.5500; Gabelli Enterprise M&A Fund purchased 2,000 shares at $12.4500. |
| 2025-01-21 | Date of event which requires filing of this statement; GAMCO Asset Management Inc. purchased 3,656 shares at $12.1009. |
| 2025-01-22 | Date of filing of this statement. |
Keywords
SEC filing, Schedule 13D, beneficial ownership, Lee Enterprises, GAMCO Investors, Mario Gabelli, investment management, common stock, share acquisition
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