Aristides Capital LLC Purchases 50,728 Shares of LSI Industries Inc. $LYTS

Key Points

• Aristides Capital LLC nearly doubled its stake in LSI Industries during the first quarter, buying an additional 50,728 shares to bring its total to 103,244 shares worth about $1.92 million.
• Analyst sentiment is mixed but generally positive, with Oppenheimer initiating coverage at an “outperform” rating and a $30 target, while the overall consensus remains a “Moderate Buy” with a $28.75 target price.
• Insider selling has been significant, including large sales by the CFO and a director, while the company also recently reported weaker-than-expected quarterly results with EPS and revenue both missing estimates.

Aristides Capital LLC raised its position in LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 96.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,244 shares of the construction company's stock after acquiring an additional 50,728 shares during the quarter. Aristides Capital LLC owned approximately 0.28% of LSI Industries worth $1,920,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of LSI Industries by 205.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,534 shares of the construction company's stock worth $28,000 after purchasing an additional 1,031 shares during the last quarter. Rockefeller Capital Management L.P. raised its position 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 valued at $31,000 after purchasing an additional 625 shares during the last quarter. Strs Ohio purchased a new stake in LSI Industries in the 1st quarter worth approximately $34,000. New York State Teachers Retirement System purchased a new stake in LSI Industries in the 4th quarter worth approximately $36,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of LSI Industries in the 2nd quarter worth approximately $47,000. 73.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LYTS. Weiss Ratings cut LSI Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Oppenheimer initiated coverage on LSI Industries in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $30.00 price target for the company. Wall Street Zen cut shares of LSI Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Zacks Research upgraded shares of LSI Industries from a "strong sell" rating to a "hold" rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.75.

Insider Buying and Selling at LSI Industries

In other news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $3,317,479.62. Following the completion of the transaction, the chief financial officer directly owned 173,288 shares in the company, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wilfred T. Ogara sold 10,369 shares of the company's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $24.09, for a total transaction of $249,789.21. Following the completion of the transaction, the director owned 103,686 shares in the company, valued at approximately $2,497,795.74. The trade was a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 256,173 shares of company stock valued at $6,220,368. Corporate insiders own 7.30% of the company's stock.

LSI Industries Price Performance

Shares of LYTS stock opened at $23.42 on Friday. The business's fifty day moving average is $24.56 and its 200 day moving average is $22.20. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. The stock has a market cap of $859.75 million, a price-to-earnings ratio of 31.23 and a beta of 0.53. LSI Industries Inc. has a twelve month low of $17.20 and a twelve month high of $27.36.

LSI Industries (NASDAQ:LYTS - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.34). LSI Industries had a net margin of 3.91% and a return on equity of 8.90%. The firm had revenue of $150.53 million for the quarter, compared to analysts' expectations of $163.53 million. Research analysts expect that LSI Industries Inc. will post 0.78 EPS for the current fiscal year.

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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