Lazard Asset Management LLC Sells 60,808 Shares of LSI Industries Inc. $LYTS

Key Points

• Lazard Asset Management cut its LSI Industries position by 61.6%, selling 60,808 shares and retaining 37,923 shares valued at approximately $705,000. Institutional investors collectively own 73.91% of the company.
• Analyst sentiment remains positive overall, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $28.75. Oppenheimer initiated coverage with an Outperform rating and a $30 target.
• Company insiders sold 256,173 shares worth about $6.22 million over the past 90 days, while LYTS recently traded at $25.00, near its 52-week high of $27.36 and above its 200-day moving average of $22.48.

Lazard Asset Management LLC reduced its position in shares of LSI Industries Inc. (NASDAQ:LYTS - Free Report) by 61.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,923 shares of the construction company's stock after selling 60,808 shares during the period. Lazard Asset Management LLC owned approximately 0.10% of LSI Industries worth $705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYTS. Vanguard Group Inc. boosted its holdings in shares of LSI Industries by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,657,475 shares of the construction company's stock valued at $39,133,000 after purchasing an additional 50,722 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of LSI Industries by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,122 shares of the construction company's stock worth $27,232,000 after buying an additional 6,783 shares in the last quarter. AltraVue Capital LLC lifted its position in shares of LSI Industries by 8.0% during the 4th quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company's stock worth $26,488,000 after buying an additional 106,693 shares during the last quarter. Royce & Associates LP boosted its stake in LSI Industries by 16.4% in the fourth quarter. Royce & Associates LP now owns 1,216,349 shares of the construction company's stock valued at $22,284,000 after buying an additional 171,124 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in LSI Industries by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 763,182 shares of the construction company's stock valued at $13,985,000 after buying an additional 26,700 shares in the last quarter. 73.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling

In other LSI Industries news, CFO James E. Galeese sold 136,578 shares of the business's 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 sale, the chief financial officer directly owned 173,288 shares of the company's stock, valued at $4,209,165.52. The trade was a 44.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. Caneris sold 109,226 shares of the company's 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 $2,653,099.54. Following the completion of the transaction, the executive vice president owned 64,790 shares of the company's stock, valued at approximately $1,573,749.10. This trade represents a 62.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 256,173 shares of company stock worth $6,220,368 in the last ninety days. Company insiders own 7.30% of the company's stock.

LSI Industries Stock Performance

LSI Industries stock opened at $25.00 on Thursday. The business has a 50 day moving average of $24.63 and a 200-day moving average of $22.48. LSI Industries Inc. has a 1 year low of $17.20 and a 1 year high of $27.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.48 and a quick ratio of 0.86. The company has a market capitalization of $917.75 million, a P/E ratio of 33.33 and a beta of 0.56.

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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