Polar Asset Management Partners Inc. Acquires Shares of 75,500 LSI Industries Inc. $LYTS

Polar Asset Management Partners Inc. acquired a new stake in shares of LSI Industries Inc. (NASDAQ:LYTS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75,500 shares of the construction company’s stock, valued at approximately $1,404,000.

A number of other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $28,000 after purchasing an additional 1,031 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake 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 in the last quarter. Strs Ohio bought a new stake in LSI Industries during the 1st quarter valued at $34,000. New York State Teachers Retirement System acquired a new position in LSI Industries during the fourth quarter worth $36,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of LSI Industries in the second quarter valued at $47,000. 73.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LSI Industries

In other LSI Industries news, Director Wilfred T. Ogara sold 10,369 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $24.09, for a total value of $249,789.21. Following the completion of the sale, the director directly owned 103,686 shares of the company’s stock, valued at $2,497,795.74. This trade represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO James E. Galeese sold 136,578 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 value of $3,317,479.62. Following the completion of the sale, the chief financial officer owned 173,288 shares in the company, valued at approximately $4,209,165.52. The trade was a 44.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 256,173 shares of company stock valued at $6,220,368. Company insiders own 7.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYTS. Wall Street Zen cut shares of LSI Industries from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings cut shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Oppenheimer began coverage on LSI Industries in a research note on Tuesday, June 9th. They set an “outperform” rating and a $30.00 price target for the company. Finally, Zacks Research raised 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.75.

LSI Industries Stock Up 0.1%

LYTS opened at $23.25 on Tuesday. The company’s 50-day moving average price is $24.56 and its two-hundred day moving average price is $22.26. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.58. LSI Industries Inc. has a twelve month low of $17.20 and a twelve month high of $27.36. The stock has a market cap of $853.51 million, a price-to-earnings ratio of 31.00 and a beta of 0.53.

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.