EntryPoint Capital LLC Makes New $235,000 Investment in Daktronics, Inc. $DAKT

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 Daktronics, Inc. (NASDAQ:DAKT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,288 shares of the technology company's stock, valued at approximately $235,000.

Other hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in Daktronics during the 1st quarter valued at $81,000. GAMMA Investing LLC boosted its holdings in shares of Daktronics by 5,889.3% during the 1st quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock valued at $88,000 after purchasing an additional 7,126 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Daktronics during the 1st quarter valued at about $90,000. Harbor Capital Advisors Inc. bought a new position in shares of Daktronics during the 1st quarter valued at about $121,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Daktronics during the 1st quarter valued at about $135,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Daktronics from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, Daktronics has a consensus rating of "Strong Buy" and a consensus target price of $26.00.

Insiders Place Their Bets

In related news, insider Sheila Mae Anderson sold 3,839 shares of Daktronics stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total transaction of $64,725.54. Following the completion of the transaction, the insider directly owned 39,495 shares in the company, valued at approximately $665,885.70. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Daktronics Stock Down 1.0%

DAKT traded down $0.18 during trading on Friday, hitting $17.27. The stock had a trading volume of 43,127 shares, compared to its average volume of 415,717. Daktronics, Inc. has a twelve month low of $10.24 and a twelve month high of $19.89. The stock has a 50 day simple moving average of $16.35 and a two-hundred day simple moving average of $14.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22. The company has a market capitalization of $848.27 million, a PE ratio of -39.26, a PEG ratio of 0.56 and a beta of 1.65.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $189.10 million. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, research analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current year.

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.