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

LSI Industries Inc. (NASDAQ:LYTS) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 375,300 shares, a decrease of 26.4% from the January 15th total of 509,900 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average trading volume of 150,100 shares, the days-to-cover ratio is presently 2.5 days.

Hedge Funds Weigh In On LSI Industries

Several hedge funds and other institutional investors have recently modified their holdings of LYTS. SG Americas Securities LLC acquired a new position in shares of LSI Industries in the 3rd quarter valued at about $183,000. Wedge Capital Management L L P NC lifted its stake in shares of LSI Industries by 0.9% in the 3rd quarter. Wedge Capital Management L L P NC now owns 85,140 shares of the construction company’s stock valued at $1,375,000 after purchasing an additional 740 shares in the last quarter. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of LSI Industries during the 3rd quarter valued at about $611,000. Janney Montgomery Scott LLC raised its holdings in shares of LSI Industries by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 46,911 shares of the construction company’s stock valued at $758,000 after buying an additional 1,535 shares during the period. Finally, Phocas Financial Corp. purchased a new stake in shares of LSI Industries during the 3rd quarter valued at about $3,682,000. 73.91% of the stock is owned by institutional investors and hedge funds.

LSI Industries Price Performance

Shares of LYTS traded up $0.49 during trading hours on Friday, reaching $20.56. 23,053 shares of the company traded hands, compared to its average volume of 164,896. The company has a quick ratio of 1.19, a current ratio of 2.08 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $613.51 million, a PE ratio of 26.59 and a beta of 0.94. LSI Industries has a fifty-two week low of $13.63 and a fifty-two week high of $25.50. The stock has a fifty day simple moving average of $20.05 and a 200 day simple moving average of $17.93.

LSI Industries (NASDAQ:LYTS) last issued its quarterly earnings results on Thursday, January 23rd. The construction company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). LSI Industries had a return on equity of 11.42% and a net margin of 4.47%. As a group, research analysts predict that LSI Industries will post 0.7 EPS for the current fiscal year.

LSI Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Monday, February 3rd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, February 3rd. LSI Industries’s dividend payout ratio is currently 25.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LYTS shares. HC Wainwright increased their price objective on LSI Industries from $20.00 to $30.00 and gave the company a “buy” rating in a report on Friday, January 24th. Canaccord Genuity Group increased their price objective on LSI Industries from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, January 24th.

LSI Industries Company Profile

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.