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

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

Institutional Trading of LSI Industries

A number of hedge funds and other institutional investors have recently modified their holdings of LYTS. Phocas Financial Corp. bought a new stake in shares of LSI Industries in the 3rd quarter worth $3,682,000. Invesco Ltd. raised its stake in shares of LSI Industries by 354.1% in the 4th quarter. Invesco Ltd. now owns 243,781 shares of the construction company’s stock worth $4,734,000 after buying an additional 190,095 shares in the last quarter. Systematic Financial Management LP raised its stake in shares of LSI Industries by 7.1% in the 3rd quarter. Systematic Financial Management LP now owns 2,439,120 shares of the construction company’s stock worth $39,392,000 after buying an additional 162,160 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of LSI Industries by 203.0% during the fourth quarter. JPMorgan Chase & Co. now owns 86,550 shares of the construction company’s stock worth $1,681,000 after purchasing an additional 57,989 shares during the period. Finally, EAM Investors LLC acquired a new stake in shares of LSI Industries during the fourth quarter worth $1,002,000. Institutional investors own 73.91% of the company’s stock.

LSI Industries Stock Performance

LYTS stock traded up $0.49 during trading on Friday, reaching $20.56. 23,053 shares of the company’s stock were exchanged, 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. LSI Industries has a 1-year low of $13.63 and a 1-year high of $25.50. The company’s fifty day moving average price is $20.05 and its 200-day moving average price is $17.93. The firm has a market cap of $613.51 million, a PE ratio of 26.59 and a beta of 0.94.

LSI Industries (NASDAQ:LYTS) last announced 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%. On average, research analysts expect that LSI Industries will post 0.7 EPS for the current fiscal year.

LSI Industries Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Monday, February 3rd. LSI Industries’s dividend payout ratio is presently 25.97%.

Wall Street Analyst Weigh In

LYTS has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on LSI Industries from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, January 24th. HC Wainwright boosted their price target on LSI Industries from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, January 24th.

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.