Connor Clark & Lunn Investment Management Ltd. boosted its position in LSI Industries, Inc. (NASDAQ:LYTS) by 19.2% during the fourth quarter, Holdings Channel reports. The fund owned 58,371 shares of the construction company’s stock after buying an additional 9,400 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in LSI Industries were worth $185,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LYTS. BlackRock Inc. increased its stake in LSI Industries by 17.1% in the third quarter. BlackRock Inc. now owns 1,392,209 shares of the construction company’s stock valued at $6,404,000 after acquiring an additional 202,813 shares during the last quarter. Renaissance Technologies LLC increased its stake in LSI Industries by 30.4% in the third quarter. Renaissance Technologies LLC now owns 443,150 shares of the construction company’s stock valued at $2,038,000 after acquiring an additional 103,334 shares during the last quarter. Bank of America Corp DE increased its stake in LSI Industries by 2,095.0% in the second quarter. Bank of America Corp DE now owns 97,656 shares of the construction company’s stock valued at $521,000 after acquiring an additional 93,207 shares during the last quarter. Bank of New York Mellon Corp increased its stake in LSI Industries by 39.0% in the fourth quarter. Bank of New York Mellon Corp now owns 251,649 shares of the construction company’s stock valued at $798,000 after acquiring an additional 70,628 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new position in LSI Industries in the fourth quarter valued at approximately $214,000. 65.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John K. Morgan bought 10,000 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were purchased at an average price of $3.27 per share, for a total transaction of $32,700.00. Following the completion of the transaction, the director now directly owns 35,880 shares of the company’s stock, valued at approximately $117,327.60. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.86% of the company’s stock.
LSI Industries (NASDAQ:LYTS) last issued its earnings results on Wednesday, January 23rd. The construction company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.06). LSI Industries had a negative net margin of 4.89% and a positive return on equity of 2.78%. The company had revenue of $89.54 million during the quarter, compared to analyst estimates of $92.00 million. As a group, equities analysts predict that LSI Industries, Inc. will post 0.2 EPS for the current fiscal year.
Separately, Zacks Investment Research cut shares of LSI Industries from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th.
LSI Industries Company Profile
LSI Industries Inc provides corporate visual image solutions in the United States, Canada, Australia, and Latin America. It operates in three segments: Lighting, Graphics, and Technology. The Lighting segment manufactures and markets outdoor and indoor lighting and lighting controls for the commercial, industrial, and multi-site retail markets, including the petroleum/convenience store, quick-service, and automotive markets.
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