19,288 Shares in Daktronics, Inc. $DAKT Bought by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC acquired 19,288 shares of Daktronics, Inc. valued at approximately $235,000, marking a significant investment in the company.
• Major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of Daktronics for a total of $14.9 million, decreasing their ownership by 16.74%.
• Daktronics recently reported earnings that met analysts' expectations, but the revenue fell short, prompting Wall Street analysts to adjust their ratings from "buy" to "hold."

EntryPoint Capital LLC acquired a new position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,288 shares of the technology company's stock, valued at approximately $235,000.

Other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Daktronics during the first quarter worth $81,000. GAMMA Investing LLC lifted its stake in Daktronics by 5,889.3% in the first quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock valued at $88,000 after buying an additional 7,126 shares during the last quarter. Quantbot Technologies LP bought a new stake in Daktronics in the first quarter valued at $90,000. Harbor Capital Advisors Inc. bought a new stake in Daktronics in the first quarter valued at $121,000. Finally, Janney Montgomery Scott LLC bought a new stake in Daktronics in the first quarter valued at $135,000. 61.69% of the stock is currently owned by institutional investors.

Insider Transactions at Daktronics

In related news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of Daktronics stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the sale, the insider directly owned 4,973,599 shares in the company, valued at $74,106,625.10. The trade was a 16.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sheila Mae Anderson sold 3,839 shares of Daktronics stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $16.86, for a total transaction of $64,725.54. Following the sale, the insider owned 39,495 shares in the company, valued at approximately $665,885.70. This represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.

Daktronics Stock Performance

DAKT stock opened at $16.90 on Friday. The stock has a market capitalization of $830.13 million, a price-to-earnings ratio of -38.41, a PEG ratio of 0.55 and a beta of 1.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $19.89. The stock's fifty day moving average is $16.10 and its two-hundred day moving average is $14.59.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. Daktronics had a negative net margin of 1.34% and a positive return on equity of 15.29%. 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 previous year, the business earned $0.27 earnings per share. On average, research analysts predict that Daktronics, Inc. will post 0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Daktronics from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, Daktronics presently has an average rating of "Strong Buy" and a consensus price target of $26.00.

Daktronics Company 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.

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