Alta Fox Capital Management LLC Grows Stock Holdings in Daktronics, Inc. $DAKT

Key Points

• Alta Fox Capital Management LLC has increased its holdings in Daktronics, Inc. by 94.3%, making it the 2nd largest position in their portfolio.
• Other institutional investors have also shown increased interest, with GAMMA Investing LLC raising its stake by 5,889.3% during the same quarter.
• Shares of Daktronics were downgraded from a "buy" to a "hold" rating by Wall Street Zen, with a current consensus target price of $26.00.

Alta Fox Capital Management LLC grew its position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 94.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,973,599 shares of the technology company's stock after acquiring an additional 2,899,263 shares during the period. Daktronics accounts for 28.8% of Alta Fox Capital Management LLC's portfolio, making the stock its 2nd largest holding. Alta Fox Capital Management LLC owned about 11.97% of Daktronics worth $72,758,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Daktronics in the first quarter valued at approximately $81,000. GAMMA Investing LLC raised its position in Daktronics by 5,889.3% in the 1st quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock worth $88,000 after purchasing an additional 7,126 shares during the last quarter. Quantbot Technologies LP bought a new position in Daktronics in the 1st quarter worth approximately $90,000. Virtus Advisers LLC bought a new position in Daktronics in the 1st quarter worth approximately $107,000. Finally, Harbor Capital Advisors Inc. bought a new position in Daktronics in the 1st quarter worth approximately $121,000. Institutional investors own 61.69% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and a consensus target price of $26.00.

Daktronics Stock Performance

Shares of DAKT stock traded up $0.34 on Monday, reaching $17.72. The stock had a trading volume of 80,988 shares, compared to its average volume of 409,234. The company has a quick ratio of 1.60, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $16.64 and its two-hundred day moving average is $14.65. The firm has a market capitalization of $870.21 million, a price-to-earnings ratio of -40.03, a P/E/G ratio of 0.57 and a beta of 1.69. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $19.89.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its earnings results on Wednesday, June 25th. The technology company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $172.55 million for the quarter, compared to analysts' expectations of $189.10 million. Daktronics had a negative net margin of 1.34% and a positive return on equity of 15.29%. During the same period in the prior year, the firm earned $0.27 EPS. On average, research analysts expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Insider Activity

In other news, insider Sheila Mae Anderson sold 3,839 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $16.86, for a total value of $64,725.54. Following the sale, the insider directly owned 39,495 shares of the company's stock, valued at approximately $665,885.70. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.30% of the company's stock.

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.