Daktronics (NASDAQ:DAKT) Releases Earnings Results, Meets Estimates

Daktronics (NASDAQ:DAKT - Get Free Report) announced its earnings results on Wednesday. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18, Zacks reports. Daktronics had a positive return on equity of 15.29% and a negative net margin of 1.34%. The business had revenue of $172.55 million for the quarter, compared to analysts' expectations of $189.10 million. During the same period in the prior year, the business posted $0.27 earnings per share.

Daktronics Trading Up 3.7%

DAKT stock traded up $0.56 during trading on Friday, hitting $15.59. The company had a trading volume of 727,892 shares, compared to its average volume of 483,638. The business has a 50-day moving average of $14.15 and a 200-day moving average of $14.67. Daktronics has a one year low of $10.24 and a one year high of $19.89. The stock has a market cap of $765.62 million, a PE ratio of -35.43, a PEG ratio of 0.51 and a beta of 1.62. The company has a current ratio of 2.22, a quick ratio of 1.60 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In other Daktronics news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the transaction, the insider now directly owns 4,973,599 shares in the company, valued at approximately $74,106,625.10. This represents a 16.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew David Siegel purchased 2,500 shares of the business's stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the acquisition, the director now directly owns 43,446 shares in the company, valued at approximately $499,629. This represents a 6.11% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.20% of the company's stock.

Hedge Funds Weigh In On Daktronics

A hedge fund recently raised its stake in Daktronics stock. Empowered Funds LLC grew its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 242,535 shares of the technology company's stock after buying an additional 4,926 shares during the period. Empowered Funds LLC owned approximately 0.49% of Daktronics worth $2,954,000 as of its most recent filing with the SEC. 61.69% of the stock is currently owned by institutional investors and hedge funds.

About Daktronics

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.