Foundry Partners LLC Acquires Shares of 317,632 Daktronics, Inc. (NASDAQ:DAKT)

Foundry Partners LLC bought a new position in Daktronics, Inc. (NASDAQ:DAKT) during the 3rd quarter, Holdings Channel reports. The firm bought 317,632 shares of the technology company’s stock, valued at approximately $4,101,000.

Several other institutional investors and hedge funds have also modified their holdings of DAKT. Duquesne Family Office LLC boosted its stake in Daktronics by 20.3% in the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the period. Vanguard Group Inc. raised its holdings in Daktronics by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after acquiring an additional 41,076 shares during the period. Progeny 3 Inc. raised its holdings in Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares during the period. American Century Companies Inc. increased its holdings in shares of Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after purchasing an additional 187,486 shares during the period. Finally, Meros Investment Management LP increased its holdings in shares of Daktronics by 1.6% during the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock worth $6,777,000 after purchasing an additional 7,885 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Stock Up 0.2 %

Daktronics stock opened at $14.37 on Friday. Daktronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.97. The stock has a market cap of $665.99 million, a PE ratio of 179.65, a price-to-earnings-growth ratio of 0.57 and a beta of 1.14. The firm’s 50-day simple moving average is $13.42 and its 200 day simple moving average is $13.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The firm had revenue of $226.09 million for the quarter, compared to analysts’ expectations of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. Research analysts predict that Daktronics, Inc. will post 0.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Daktronics news, VP Matthew John Kurtenbach sold 15,400 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at $33,200. This represents a 86.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DAKT has been the topic of a number of recent analyst reports. Singular Research raised shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics 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.