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John Rogers’ Ariel Investments Reduced Plunging Lee Enterprises $LEE
John W. Rogers launched the first black-owned mutual fund in the United States at the age of 24. He is a value investor focusing on small and medium size companies. Later we will analyze his returns thoroughly. Today Rogers disclosed that he sold 2.6 Million shares of Lee Enterprises (LEE). Just a month ago the stock was trading above $3. Today it closed at $1.11. Rogers sold his shares at the end of April when the stock was trading around $1.50.
At the end of December, Ariel Investments owned 7.4 Million shares. Jim Simons’ Renaissance had 94 thousand shares in its portfolio as well.