Daktronics (NASDAQ:DAKT) VP Carla S. Gatzke Sells 9,944 Shares

Key Points

• VP Carla Gatzke of Daktronics sold 9,944 shares of the company's stock at an average price of $23.09, totaling nearly $230,000, which reduced her ownership by 1.36%.
• Daktronics reported earnings of $0.33 EPS for the last quarter, surpassing estimates and achieving $218.97 million in revenue, exceeding expectations of $196.90 million.
• Many institutional investors have significantly increased their stakes in Daktronics recently, reflecting growing confidence in the company, with 61.69% of its stock now owned by these investors.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) VP Carla S. Gatzke sold 9,944 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $23.09, for a total value of $229,606.96. Following the completion of the sale, the vice president owned 721,036 shares of the company's stock, valued at $16,648,721.24. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Daktronics Trading Up 0.1%

Shares of Daktronics stock traded up $0.03 during trading hours on Monday, hitting $22.17. The company's stock had a trading volume of 687,775 shares, compared to its average volume of 560,485. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $24.38. The stock has a 50 day moving average of $17.72 and a 200 day moving average of $15.14. The company has a market capitalization of $1.08 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 0.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.54.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its quarterly earnings data on Wednesday, September 10th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.09. The business had revenue of $218.97 million during the quarter, compared to the consensus estimate of $196.90 million. Daktronics had a return on equity of 14.64% and a net margin of 1.51%. Analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Daktronics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in shares of Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company's stock valued at $357,000 after buying an additional 728 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Daktronics by 74.5% in the second quarter. Squarepoint Ops LLC now owns 116,413 shares of the technology company's stock valued at $1,760,000 after buying an additional 49,684 shares in the last quarter. Duquesne Family Office LLC lifted its position in shares of Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company's stock valued at $46,513,000 after buying an additional 8,599 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its position in shares of Daktronics by 21.6% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 18,942 shares of the technology company's stock valued at $286,000 after buying an additional 3,370 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Daktronics in the second quarter valued at approximately $925,000. 61.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DAKT shares. Wall Street Zen upgraded Daktronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Zacks Research upgraded Daktronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Strong Buy" and a consensus target price 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.