LSI Industries Inc. (NASDAQ:LYTS) Sees Large Decline in Short Interest

LSI Industries Inc. (NASDAQ:LYTS) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 527,400 shares, a decline of 21.2% from the July 15th total of 669,600 shares. Based on an average trading volume of 105,100 shares, the short-interest ratio is currently 5.0 days. Currently, 2.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LYTS shares. Canaccord Genuity Group boosted their price target on shares of LSI Industries from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, April 26th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of LSI Industries in a report on Friday.

LSI Industries Price Performance

NASDAQ LYTS traded up $0.22 on Friday, hitting $15.14. The stock had a trading volume of 36,411 shares, compared to its average volume of 104,796. The firm has a 50-day moving average of $14.97 and a 200-day moving average of $14.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.25 and a current ratio of 2.17. LSI Industries has a 52-week low of $11.44 and a 52-week high of $17.33. The company has a market capitalization of $441.03 million, a price-to-earnings ratio of 16.23 and a beta of 0.86.

LSI Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, August 26th. LSI Industries’s dividend payout ratio is 21.51%.

Insiders Place Their Bets

In other news, CFO James E. Galeese sold 2,122 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $15.10, for a total transaction of $32,042.20. Following the completion of the sale, the chief financial officer now owns 104,050 shares in the company, valued at approximately $1,571,155. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On LSI Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of LSI Industries by 8.1% during the 2nd quarter. AQR Capital Management LLC now owns 143,829 shares of the construction company’s stock valued at $2,081,000 after acquiring an additional 10,790 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in LSI Industries in the second quarter valued at approximately $191,000. Bank of Montreal Can bought a new stake in LSI Industries during the second quarter valued at approximately $375,000. First Eagle Investment Management LLC grew its stake in LSI Industries by 12.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 446,722 shares of the construction company’s stock worth $6,464,000 after buying an additional 50,624 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of LSI Industries by 8.1% during the 2nd quarter. Hsbc Holdings PLC now owns 57,998 shares of the construction company’s stock valued at $836,000 after buying an additional 4,341 shares in the last quarter. 73.91% of the stock is currently owned by hedge funds and other institutional investors.

About LSI Industries

LSI Industries Inc produces and sells non-residential lighting and retail display solutions in the United States, Canada, Mexico, and Latin America. It operates through two segments, Lighting and Display Solutions. The Lighting segment manufactures, markets, and sells non-residential outdoor and indoor lighting fixture and control solutions in the commercial and industrial markets.