Wittenberg Investment Management Inc. Raises Position in Daseke, Inc. (NASDAQ:DSKE)

Wittenberg Investment Management Inc. raised its stake in shares of Daseke, Inc. (NASDAQ:DSKE) by 11.0% during the second quarter, HoldingsChannel reports. The firm owned 366,214 shares of the company’s stock after buying an additional 36,197 shares during the quarter. Daseke comprises 1.0% of Wittenberg Investment Management Inc.’s holdings, making the stock its 22nd largest position. Wittenberg Investment Management Inc.’s holdings in Daseke were worth $2,373,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Daseke by 1.9% in the first quarter. BlackRock Inc. now owns 3,446,928 shares of the company’s stock worth $29,264,000 after buying an additional 63,298 shares during the period. Geode Capital Management LLC raised its holdings in shares of Daseke by 16.0% in the first quarter. Geode Capital Management LLC now owns 890,136 shares of the company’s stock worth $7,557,000 after buying an additional 122,651 shares during the period. Royce & Associates LP purchased a new stake in shares of Daseke in the first quarter worth approximately $6,919,000. Goldman Sachs Group Inc. increased its holdings in Daseke by 151.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 534,886 shares of the company’s stock worth $4,542,000 after purchasing an additional 321,904 shares during the period. Finally, Rutabaga Capital Management LLC MA purchased a new position in Daseke during the 2nd quarter worth $3,277,000. Institutional investors and hedge funds own 34.84% of the company’s stock.

Several research analysts have commented on DSKE shares. Craig Hallum raised their price objective on Daseke from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, August 3rd. Zacks Investment Research raised Daseke from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, August 6th. Finally, Stifel Nicolaus assumed coverage on Daseke in a research report on Monday, June 21st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $10.13.

Shares of Daseke stock traded up $0.28 during trading on Friday, reaching $8.76. The company’s stock had a trading volume of 434,086 shares, compared to its average volume of 473,179. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 5.71. The company has a market cap of $545.96 million, a price-to-earnings ratio of 13.07 and a beta of 2.18. Daseke, Inc. has a 1-year low of $4.80 and a 1-year high of $10.10. The company has a 50-day simple moving average of $8.62 and a two-hundred day simple moving average of $7.71.

Daseke (NASDAQ:DSKE) last posted its quarterly earnings data on Tuesday, August 3rd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.40. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $369.70 million. Daseke had a return on equity of 90.83% and a net margin of 3.52%. As a group, analysts anticipate that Daseke, Inc. will post 0.8 earnings per share for the current year.

In other news, COO Rick Alan Williams sold 250,000 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $9.13, for a total value of $2,282,500.00. Following the completion of the sale, the chief operating officer now owns 49,505 shares of the company’s stock, valued at approximately $451,980.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.20% of the stock is owned by company insiders.

Daseke Company Profile

Daseke, Inc engages in the provision of transportation and logistics solutions. It operates through the Flatbed Solutions and Specialized Solutions segments. The Flatbed Solutions segment delivers its services through flatbed and retractable-sided transportation equipment to meet the needs of high-volume and time-sensitive shippers.

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Institutional Ownership by Quarter for Daseke (NASDAQ:DSKE)

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