Alyeska Investment Group L.P. Has $4.36 Million Stock Holdings in LSI Industries Inc. $LYTS

Key Points

• Alyeska Investment Group cut its LSI Industries stake by 45.3% in the second quarter, selling 135,830 shares and retaining 164,170 shares valued at approximately $4.36 million. Institutional investors and hedge funds collectively own 73.91% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $29.00. Recent ratings included Buy and Outperform recommendations, although some firms lowered targets or downgraded the stock to Hold.
• LSI Industries exceeded quarterly expectations, reporting adjusted earnings of $0.38 per share versus the $0.35 consensus and revenue of $234.62 million. The company also announced a quarterly dividend of $0.05 per share, equivalent to a 1.0% annualized yield.

Alyeska Investment Group L.P. trimmed its holdings in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 45.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,170 shares of the construction company's stock after selling 135,830 shares during the period. Alyeska Investment Group L.P. owned about 0.45% of LSI Industries worth $4,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its position in LSI Industries by 205.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company's stock valued at $28,000 after acquiring an additional 1,031 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in LSI Industries by 57.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,714 shares of the construction company's stock worth $31,000 after purchasing an additional 625 shares in the last quarter. Strs Ohio bought a new stake in LSI Industries during the 1st quarter worth approximately $34,000. New York State Teachers Retirement System purchased a new stake in shares of LSI Industries in the fourth quarter worth approximately $36,000. Finally, PenderFund Capital Management Ltd. purchased a new stake in shares of LSI Industries in the second quarter worth approximately $41,000. 73.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LSI Industries

In other news, CFO James E. Galeese sold 4,778 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.28, for a total transaction of $96,897.84. Following the completion of the sale, the chief financial officer owned 185,962 shares in the company, valued at $3,771,309.36. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James Anthony Clark sold 13,907 shares of LSI Industries stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $20.28, for a total transaction of $282,033.96. Following the completion of the sale, the chief executive officer directly owned 595,734 shares in the company, valued at $12,081,485.52. This trade represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 96,345 shares of company stock worth $1,928,267. 7.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYTS. HC Wainwright restated a "buy" rating on shares of LSI Industries in a report on Friday, August 21st. Morgan Stanley set a $30.00 price target on LSI Industries in a report on Friday, August 21st. Oppenheimer lowered their price target on LSI Industries from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, August 21st. Weiss Ratings cut LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of LSI Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.00.

LSI Industries Price Performance

Shares of NASDAQ:LYTS opened at $19.62 on Wednesday. The company's 50-day moving average is $23.78 and its 200 day moving average is $22.57. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The company has a market capitalization of $720.25 million, a P/E ratio of 29.28 and a beta of 0.52. LSI Industries Inc. has a fifty-two week low of $17.20 and a fifty-two week high of $27.36.

LSI Industries (NASDAQ:LYTS - Get Free Report) last posted its quarterly earnings results on Thursday, August 20th. The construction company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. The company had revenue of $234.62 million during the quarter, compared to analyst estimates of $222.78 million. LSI Industries had a net margin of 3.28% and a return on equity of 8.04%. On average, equities research analysts forecast that LSI Industries Inc. will post 0.82 earnings per share for the current year.

LSI Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, August 31st. LSI Industries's dividend payout ratio is currently 29.85%.

LSI Industries Company Profile

LSI Industries, Inc NASDAQ: LYTS is a diversified manufacturer and distributor of lighting, graphics and building technology products. Headquartered in Cincinnati, Ohio, the company develops energy-efficient LED lighting systems, branded and digital graphic displays, and integrated building technology solutions. Serving customers in the retail, quick-service and convenience store, industrial, hospitality and transportation markets, LSI combines design, engineering and manufacturing capabilities to address both aesthetic and functional needs.

In its lighting segment, LSI offers interior and exterior LED fixtures, canopy lights, high-bay and low-bay systems, and specialized horticultural grow lights.

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