Is Lee Enterprises, Incorporated (LEE) A Good Stock To Buy?

With general bullishness amongst the heavyweights, specific money managers were breaking ground themselves. McKinley Capital Management initiated the largest position in Lee Enterprises, Incorporated (NYSE:LEE), having $1.4 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a small investment in the stock during the quarter. The only other fund with a brand new LEE position was Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s go over hedge fund activity in other stocks similar to Lee Enterprises, Incorporated (NYSE:LEE). We will take a look at Pfenex Inc (NYSEMKT:PFNX), EndoChoice Holdings Inc (NYSE:GI), Comtech Telecomm. Corp. (NASDAQ:CMTL), and Stemline Therapeutics Inc (NASDAQ:STML). This group of stocks’ market caps match LEE’s market cap.

As you can see these stocks had an average of 9 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $9 million in LEE’s case. Comtech Telecomm. Corp. (NASDAQ:CMTL) is the most popular stock in this table. On the other hand Pfenex Inc (NYSEMKT:PFNX) is the least popular one with only 8 bullish hedge fund positions. Lee Enterprises, Incorporated (NYSE:LEE) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on recently. In this regard STML might be a better candidate to consider taking a long position in.

Disclosure: None