Daktronics (NASDAQ:DAKT) Posts Quarterly Earnings Results, Meets Estimates

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

Daktronics Trading Down 4.9%

Shares of Daktronics stock opened at $14.45 on Thursday. The company’s 50-day moving average price is $14.04 and its 200-day moving average price is $14.76. The company has a current ratio of 2.43, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. Daktronics has a 12-month low of $10.24 and a 12-month high of $19.89. The company has a market cap of $709.64 million, a price-to-earnings ratio of -72.25, a PEG ratio of 0.50 and a beta of 1.62.

Insider Activity

In other Daktronics news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.90, for a total value of $14,900,000.00. Following the sale, the insider now directly owns 4,973,599 shares in the company, valued at $74,106,625.10. This represents a 16.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew David Siegel purchased 2,500 shares of the business’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $11.50 per share, with a total value of $28,750.00. Following the completion of the acquisition, the director now owns 43,446 shares in the company, valued at approximately $499,629. This trade represents a 6.11% increase in their ownership of the stock. The disclosure for this purchase 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 raised its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,535 shares of the technology company’s stock after acquiring an additional 4,926 shares during the period. Empowered Funds LLC owned approximately 0.49% of Daktronics worth $2,954,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 61.69% 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.