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

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

Daktronics Price Performance

NASDAQ DAKT opened at $14.45 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 2.43. The stock has a market capitalization of $709.64 million, a P/E ratio of -72.25, a P/E/G ratio of 0.50 and a beta of 1.62. The business’s fifty day moving average is $14.04 and its two-hundred day moving average is $14.76. Daktronics has a 1 year low of $10.24 and a 1 year high of $19.89.

Insider Activity at Daktronics

In other news, Director Andrew David Siegel acquired 7,200 shares of Daktronics stock in a transaction dated Monday, March 31st. The stock was acquired at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the completion of the purchase, the director now owns 40,946 shares of the company’s stock, valued at $483,981.72. This represents a 21.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the transaction, the insider now directly owns 4,973,599 shares of the company’s stock, valued at approximately $74,106,625.10. This represents a 16.74% decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Daktronics

A hedge fund recently raised its stake in Daktronics stock. Empowered Funds LLC lifted its position in Daktronics, Inc. (NASDAQ:DAKT) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 242,535 shares of the technology company’s stock after purchasing an additional 4,926 shares during the quarter. Empowered Funds LLC owned 0.49% of Daktronics worth $2,954,000 at the end of the most recent reporting period. 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.