Progeny 3 Inc. Grows Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Progeny 3 Inc. boosted its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 140.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,794,908 shares of the technology company’s stock after acquiring an additional 1,047,156 shares during the period. Daktronics accounts for about 2.4% of Progeny 3 Inc.’s investment portfolio, making the stock its 16th largest holding. Progeny 3 Inc.’s holdings in Daktronics were worth $25,039,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DAKT. Inspire Investing LLC bought a new position in shares of Daktronics during the second quarter valued at approximately $998,000. Sierra Summit Advisors LLC grew its stake in shares of Daktronics by 9.5% in the 2nd quarter. Sierra Summit Advisors LLC now owns 69,060 shares of the technology company’s stock worth $963,000 after buying an additional 5,983 shares during the last quarter. American Century Companies Inc. increased its position in Daktronics by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after buying an additional 187,486 shares in the last quarter. LSV Asset Management raised its stake in Daktronics by 10.2% during the second quarter. LSV Asset Management now owns 180,374 shares of the technology company’s stock valued at $2,516,000 after buying an additional 16,700 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its holdings in Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock worth $2,070,000 after acquiring an additional 2,778 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Stock Performance

Shares of DAKT opened at $11.91 on Tuesday. The company has a market cap of $551.39 million, a price-to-earnings ratio of 19.52, a P/E/G ratio of 0.45 and a beta of 1.14. The business’s fifty day simple moving average is $13.97 and its two-hundred day simple moving average is $11.93. Daktronics, Inc. has a 12 month low of $7.20 and a 12 month high of $15.97. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, June 26th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.14 by $0.13. The company had revenue of $215.88 million during the quarter, compared to the consensus estimate of $179.28 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. Research analysts anticipate that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Matthew John Kurtenbach sold 8,874 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $13.90, for a total value of $123,348.60. Following the sale, the vice president now owns 208,906 shares in the company, valued at $2,903,793.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Bradley T. Wiemann sold 1,839 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $14.66, for a total transaction of $26,959.74. Following the completion of the sale, the executive vice president now owns 108,743 shares of the company’s stock, valued at approximately $1,594,172.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew John Kurtenbach sold 8,874 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $13.90, for a total transaction of $123,348.60. Following the completion of the transaction, the vice president now owns 208,906 shares in the company, valued at approximately $2,903,793.40. The disclosure for this sale can be found here. Insiders sold 48,811 shares of company stock valued at $692,532 over the last three months. Insiders own 8.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DAKT shares. StockNews.com lowered Daktronics from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.