Polar Asset Management Partners Inc. Invests $1.40 Million in LSI Industries Inc. $LYTS

Polar Asset Management Partners Inc. acquired a new position in LSI Industries Inc. (NASDAQ:LYTS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 75,500 shares of the construction company’s stock, valued at approximately $1,404,000. Polar Asset Management Partners Inc. owned about 0.21% of LSI Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. North Star Investment Management Corp. grew its position in shares of LSI Industries by 40.7% in the 1st quarter. North Star Investment Management Corp. now owns 276,463 shares of the construction company’s stock valued at $5,142,000 after buying an additional 80,000 shares during the last quarter. AltraVue Capital LLC raised its position in shares of LSI Industries by 8.0% during the fourth quarter. AltraVue Capital LLC now owns 1,445,833 shares of the construction company’s stock worth $26,488,000 after acquiring an additional 106,693 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of LSI Industries during the first quarter worth about $2,107,000. Juniper Investment Company LLC lifted its stake in shares of LSI Industries by 211.0% in the fourth quarter. Juniper Investment Company LLC now owns 341,504 shares of the construction company’s stock worth $6,256,000 after acquiring an additional 231,693 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of LSI Industries by 70.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 742,592 shares of the construction company’s stock worth $13,604,000 after acquiring an additional 306,864 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.

LSI Industries Price Performance

Shares of LYTS opened at $23.25 on Tuesday. LSI Industries Inc. has a 52-week low of $17.20 and a 52-week high of $27.36. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.86 and a current ratio of 1.48. The business’s 50 day moving average price is $24.56 and its two-hundred day moving average price is $22.26. The firm has a market cap of $853.51 million, a PE ratio of 31.00 and a beta of 0.53.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LYTS. Wall Street Zen downgraded shares of LSI Industries from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of LSI Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Zacks Research raised shares of LSI Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Oppenheimer began coverage on shares of LSI Industries in a research report on Tuesday, June 9th. They set 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.75.

Insider Activity at LSI Industries

In other LSI Industries news, CFO James E. Galeese sold 136,578 shares of the firm’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 directly owned 173,288 shares in the company, valued at approximately $4,209,165.52. This trade represents a 44.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas A. Caneris sold 109,226 shares of LSI Industries 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 directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 256,173 shares of company stock worth $6,220,368 in the last quarter. Company insiders own 7.30% of the company’s stock.

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.