Arrowstreet Capital Limited Partnership Sells 49,295 Shares of LSI Industries Inc. $LYTS

Key Points

• Arrowstreet Capital reduced its LSI Industries stake by 26.2%, selling 49,295 shares in the first quarter and retaining 138,808 shares worth approximately $2.6 million. Institutional investors collectively own 73.91% of LYTS.
• LSI Industries insiders have made significant sales, including CFO James Galeese and EVP Thomas Caneris, who sold shares totaling nearly $6.2 million over the past 90 days. Corporate insiders own 7.30% of the company.
• Analyst sentiment remains favorable, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $28.75, above the stock’s reported price of $24.73.

Arrowstreet Capital Limited Partnership lessened its holdings in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 26.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 138,808 shares of the construction company's stock after selling 49,295 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.38% of LSI Industries worth $2,582,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of LSI Industries by 3.2% in the third quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company's stock valued at $39,133,000 after acquiring an additional 50,722 shares during the period. Dimensional Fund Advisors LP boosted its holdings in LSI Industries by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company's stock valued at $27,232,000 after purchasing an additional 6,783 shares during the period. AltraVue Capital LLC boosted its holdings in LSI Industries by 8.0% in the 4th quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock valued at $26,488,000 after purchasing an additional 106,693 shares during the period. Royce & Associates LP grew its position in LSI Industries by 16.4% in the 4th quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company's stock worth $22,284,000 after purchasing an additional 171,124 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in LSI Industries by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company's stock worth $13,985,000 after purchasing an additional 26,700 shares during the last quarter. Institutional investors own 73.91% of the company's stock.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, CFO James E. Galeese sold 136,578 shares of LSI Industries stock in a transaction on Thursday, May 28th. The stock was 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 of the company's stock, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas A. Caneris sold 109,226 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $24.29, for a total transaction of $2,653,099.54. Following the completion of the sale, the executive vice president owned 64,790 shares in the company, valued at $1,573,749.10. This represents a 62.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 256,173 shares of company stock valued at $6,220,368. 7.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LYTS shares. Oppenheimer started coverage on shares of LSI Industries in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $30.00 target price for the company. Wall Street Zen lowered LSI Industries from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised LSI Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $28.75.

LSI Industries Stock Performance

NASDAQ LYTS opened at $24.73 on Wednesday. The stock has a market cap of $907.84 million, a P/E ratio of 32.97 and a beta of 0.56. The company's 50-day simple moving average is $24.63 and its 200 day simple moving average is $22.45. LSI Industries Inc. has a twelve month low of $17.20 and a twelve month high of $27.36. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58.

About LSI Industries

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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