Empowered Funds LLC Acquires 11,524 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Empowered Funds LLC raised its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 5.4% in the 3rd quarter, Holdings Channel reports. The firm owned 226,070 shares of the technology company’s stock after purchasing an additional 11,524 shares during the quarter. Empowered Funds LLC’s holdings in Daktronics were worth $2,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Progeny 3 Inc. increased its stake in shares of Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares during the period. Duquesne Family Office LLC increased its stake in shares of Daktronics by 20.3% during the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after buying an additional 420,161 shares during the period. American Century Companies Inc. increased its stake in shares of Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after buying an additional 187,486 shares during the period. Privium Fund Management UK Ltd purchased a new position in shares of Daktronics during the second quarter valued at $1,338,000. Finally, Inspire Investing LLC purchased a new position in shares of Daktronics during the second quarter valued at $998,000. 61.69% of the stock is currently owned by institutional investors.

Insider Transactions at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. The trade was a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the sale, the vice president now owns 2,500 shares in the company, valued at $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DAKT. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th.

Daktronics Price Performance

DAKT opened at $15.18 on Wednesday. The business’s 50-day moving average is $13.34 and its two-hundred day moving average is $13.09. Daktronics, Inc. has a 1 year low of $7.20 and a 1 year high of $15.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The firm has a market capitalization of $703.24 million, a PE ratio of 189.69, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The company had revenue of $226.09 million for the quarter, compared to analyst estimates of $216.84 million. Research analysts anticipate that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Daktronics Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.