Essex Investment Management Co. LLC increased its position in shares of LSI Industries Inc. (NASDAQ:LYTS) by 37.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,856 shares of the construction company’s stock after buying an additional 50,705 shares during the period. Essex Investment Management Co. LLC owned approximately 0.73% of LSI Industries worth $1,682,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in LYTS. TFS Capital LLC acquired a new stake in shares of LSI Industries during the first quarter valued at about $204,000. First Personal Financial Services acquired a new stake in shares of LSI Industries during the first quarter valued at about $522,000. Bank of New York Mellon Corp increased its stake in shares of LSI Industries by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 207,912 shares of the construction company’s stock valued at $2,098,000 after buying an additional 5,776 shares during the period. Algert Global LLC increased its stake in shares of LSI Industries by 8.5% in the first quarter. Algert Global LLC now owns 57,934 shares of the construction company’s stock valued at $585,000 after buying an additional 4,537 shares during the period. Finally, North Star Investment Management Corp. increased its stake in shares of LSI Industries by 21.2% in the first quarter. North Star Investment Management Corp. now owns 460,631 shares of the construction company’s stock valued at $4,648,000 after buying an additional 80,450 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
Shares of LSI Industries Inc. (NASDAQ LYTS) traded down 0.53% on Friday, reaching $5.58. The company had a trading volume of 92,462 shares. The stock has a 50-day moving average price of $8.35 and a 200-day moving average price of $9.15. LSI Industries Inc. has a 12 month low of $5.45 and a 12 month high of $11.55. The stock has a market cap of $141.73 million, a PE ratio of 39.57 and a beta of 1.56.
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Several research analysts have recently weighed in on LYTS shares. Canaccord Genuity reaffirmed a “buy” rating and set a $9.00 price objective on shares of LSI Industries in a research report on Monday. Roth Capital cut LSI Industries from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $13.00 to $7.00 in a research report on Friday, August 4th. Finally, Zacks Investment Research raised LSI Industries from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th.
About LSI Industries
LSI Industries Inc is a provider of corporate visual image solutions to the petroleum/convenience store industry. The Company designs and develops aspects of the solid-state light emitting diode (LED) lighting, from the electronic circuit board, to the software to drive and control the LEDs, to the structure of the LED product.
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