GAMMA Investing LLC Sells 60 Shares of Acuity, Inc. $AYI

GAMMA Investing LLC cut its stake in shares of Acuity, Inc. (NYSE:AYI) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 803 shares of the electronics maker’s stock after selling 60 shares during the quarter. GAMMA Investing LLC’s holdings in Acuity were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AYI. Cullen Frost Bankers Inc. lifted its position in Acuity by 525.0% during the first quarter. Cullen Frost Bankers Inc. now owns 125 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 105 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Acuity by 45.3% during the first quarter. UMB Bank n.a. now owns 250 shares of the electronics maker’s stock worth $66,000 after acquiring an additional 78 shares in the last quarter. Reyes Financial Architecture Inc. raised its stake in shares of Acuity by 31.7% during the first quarter. Reyes Financial Architecture Inc. now owns 320 shares of the electronics maker’s stock worth $84,000 after acquiring an additional 77 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Acuity by 1,789.5% during the first quarter. Caitong International Asset Management Co. Ltd now owns 359 shares of the electronics maker’s stock worth $95,000 after acquiring an additional 340 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Acuity by 15.0% during the first quarter. Signaturefd LLC now owns 429 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 56 shares in the last quarter. 98.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AYI. Wall Street Zen raised shares of Acuity from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 27th. Robert W. Baird lifted their price target on shares of Acuity from $335.00 to $360.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley lifted their price target on shares of Acuity from $335.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company raised shares of Acuity from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $320.00 to $380.00 in a research note on Tuesday, September 2nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Acuity presently has an average rating of “Moderate Buy” and an average price target of $357.60.

Insiders Place Their Bets

In related news, SVP Barry R. Goldman sold 4,125 shares of Acuity stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $298.30, for a total value of $1,230,487.50. Following the sale, the senior vice president owned 6,638 shares in the company, valued at $1,980,115.40. The trade was a 38.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Acuity Stock Up 1.4%

Shares of Acuity stock opened at $339.00 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.38 and a current ratio of 1.99. Acuity, Inc. has a 52-week low of $216.81 and a 52-week high of $349.00. The stock has a market capitalization of $10.39 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 1.89 and a beta of 1.65. The company’s 50 day moving average price is $323.32 and its 200-day moving average price is $285.49.

Acuity (NYSE:AYI) last issued its earnings results on Thursday, June 26th. The electronics maker reported $5.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.44 by $0.68. Acuity had a net margin of 9.63% and a return on equity of 20.35%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $4.15 earnings per share. The business’s revenue was up 21.7% on a year-over-year basis. Equities research analysts forecast that Acuity, Inc. will post 15.86 EPS for the current year.

Acuity Profile

Acuity Brands, Inc provides lighting, lighting controls, building management system, location-aware applications in the United States and internationally. The company operates in two segments, Acuity Brands Lighting and Lighting Controls (ABL); and the Intelligent Spaces Group (ISG). The ABL segment provides commercial, architectural, and specialty lighting solutions, as well as lighting controls and components for various indoor and outdoor applications under the A-Light, Aculux, American Electric Lighting, Cyclone, Dark to Light, eldoLED, Eureka, Gotham, Healthcare Lighting, Holophane, Hydrel, Indy, IOTA, Juno, Lithonia Lighting, Luminaire LED, Luminis, Mark Architectural Lighting, nLight, OPTOTRONIC, Peerless, RELOCWiring Solutions, and Sensor Switch.