Daktronics (NASDAQ:DAKT) Posts Earnings Results, Hits Expectations

Daktronics (NASDAQ:DAKT) posted its earnings results on Wednesday. The technology company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18, Zacks reports. The business had revenue of $172.55 million for the quarter, compared to analysts’ expectations of $189.10 million. Daktronics had a return on equity of 17.37% and a net margin of 0.23%. During the same quarter in the previous year, the firm earned $0.27 earnings per share.

Daktronics Trading Down 4.9%

NASDAQ:DAKT opened at $14.45 on Thursday. The stock’s 50 day moving average price is $14.04 and its 200 day moving average price is $14.76. Daktronics has a 52-week low of $10.24 and a 52-week high of $19.89. The company has a market capitalization of $709.64 million, a PE ratio of -72.25, a P/E/G ratio of 0.50 and a beta of 1.62. The company has a quick ratio of 1.73, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

Insider Buying and Selling

In other news, Director Andrew David Siegel purchased 2,500 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the purchase, the director now directly owns 43,446 shares in the company, valued at $499,629. The trade was a 6.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the firm’s 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 completion of the sale, the insider now owns 4,973,599 shares of the company’s stock, valued at approximately $74,106,625.10. The trade was a 16.74% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Daktronics

An institutional investor recently raised its position in Daktronics stock. Empowered Funds LLC boosted its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 242,535 shares of the technology company’s stock after purchasing an additional 4,926 shares during the quarter. Empowered Funds LLC owned approximately 0.49% of Daktronics worth $2,954,000 at the end of the most recent reporting period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

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.