Empowered Funds LLC Acquires 11,524 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Empowered Funds LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,070 shares of the technology company’s stock after buying an additional 11,524 shares during the quarter. Empowered Funds LLC owned about 0.49% of Daktronics worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Duquesne Family Office LLC grew its holdings in Daktronics by 20.3% during the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after buying an additional 420,161 shares in the last quarter. Vanguard Group Inc. grew its holdings in Daktronics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after buying an additional 41,076 shares in the last quarter. Progeny 3 Inc. grew its holdings in Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares in the last quarter. American Century Companies Inc. grew its holdings 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. Finally, Meros Investment Management LP grew its holdings in Daktronics by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after buying an additional 7,885 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction on Thursday, October 3rd. The stock was 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 directly owns 2,500 shares in the company, valued at approximately $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This trade 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 owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Singular Research raised shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Trading Up 2.5 %

DAKT stock opened at $15.18 on Wednesday. The firm has a fifty day moving average price of $13.34 and a 200 day moving average price of $13.09. Daktronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $15.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The firm has a market cap of $703.24 million, a PE ratio of 189.69, a price-to-earnings-growth ratio of 0.54 and a beta of 1.14.

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

About Daktronics

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.