Daktronics, Inc. (NASDAQ:DAKT) Shares Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC grew its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,060 shares of the technology company’s stock after purchasing an additional 5,983 shares during the period. Sierra Summit Advisors LLC owned about 0.15% of Daktronics worth $963,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DAKT. Breach Inlet Capital Management LLC purchased a new stake in Daktronics during the fourth quarter valued at about $11,508,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Daktronics in the 1st quarter valued at approximately $7,482,000. Progeny 3 Inc. acquired a new position in Daktronics in the 1st quarter worth approximately $7,448,000. Intrinsic Edge Capital Management LLC purchased a new position in Daktronics during the 4th quarter worth approximately $4,240,000. Finally, Dimensional Fund Advisors LP raised its stake in Daktronics by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock valued at $20,788,000 after purchasing an additional 305,597 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Bradley T. Wiemann sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total value of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares of the company’s stock, valued at approximately $1,803,115.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Reece A. Kurtenbach sold 15,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.87, for a total transaction of $208,050.00. Following the transaction, the chief executive officer now owns 457,963 shares in the company, valued at approximately $6,351,946.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley T. Wiemann sold 7,500 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares of the company’s stock, valued at $1,803,115.20. The disclosure for this sale can be found here. Insiders have sold a total of 48,811 shares of company stock valued at $692,532 in the last three months. Insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on DAKT shares. Singular Research raised Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com lowered Daktronics from a “buy” rating to a “hold” rating in a research report on Friday.

Daktronics Stock Performance

Shares of DAKT opened at $12.56 on Monday. The company has a market capitalization of $581.48 million, a PE ratio of 20.59, a PEG ratio of 0.45 and a beta of 1.14. 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 company’s 50 day moving average price is $14.16 and its 200 day moving average price is $11.78. Daktronics, Inc. has a 52 week low of $7.20 and a 52 week high of $15.97.

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

About Daktronics

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.