Spark Investment Management LLC Sells 21,800 Shares of Daktronics, Inc. (DAKT)
Spark Investment Management LLC reduced its position in Daktronics, Inc. (NASDAQ:DAKT) by 18.5% during the second quarter, Holdings Channel reports. The fund owned 96,100 shares of the technology company’s stock after selling 21,800 shares during the period. Spark Investment Management LLC’s holdings in Daktronics were worth $925,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Denver Investment Advisors LLC acquired a new position in Daktronics during the first quarter worth about $103,000. Highbridge Capital Management LLC acquired a new position in Daktronics during the first quarter worth about $108,000. OLD National Bancorp IN increased its position in Daktronics by 15.8% in the first quarter. OLD National Bancorp IN now owns 11,783 shares of the technology company’s stock worth $111,000 after buying an additional 1,608 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in Daktronics during the first quarter worth about $114,000. Finally, Investment Centers of America Inc. increased its position in Daktronics by 16.1% in the first quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock worth $129,000 after buying an additional 1,880 shares during the last quarter. Institutional investors own 51.25% of the company’s stock.
Daktronics, Inc. (DAKT) opened at 9.32 on Friday. The stock has a 50 day moving average of $9.63 and a 200-day moving average of $9.55. The company has a market capitalization of $411.79 million, a P/E ratio of 40.52 and a beta of 1.30. Daktronics, Inc. has a 52-week low of $6.75 and a 52-week high of $11.12.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business had revenue of $143.70 million during the quarter, compared to the consensus estimate of $141.50 million. Daktronics had a net margin of 0.63% and a return on equity of 1.83%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. On average, equities analysts forecast that Daktronics, Inc. will post $0.36 earnings per share for the current year.
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A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Daktronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Daktronics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Daktronics presently has a consensus rating of “Buy” and an average price target of $12.17.
In other Daktronics news, Director Nancy D. Frame sold 3,525 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $9.84, for a total value of $34,686.00. Following the sale, the director now owns 58,881 shares of the company’s stock, valued at approximately $579,389.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Mulligan sold 16,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $9.83, for a total transaction of $157,280.00. Following the completion of the sale, the director now directly owns 72,953 shares in the company, valued at approximately $717,127.99. The disclosure for this sale can be found here. Insiders sold a total of 67,661 shares of company stock worth $791,626 in the last three months. Insiders own 8.20% of the company’s stock.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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