Inspire Investing LLC Makes New $998,000 Investment in Daktronics, Inc. (NASDAQ:DAKT)

Inspire Investing LLC purchased a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 71,534 shares of the technology company’s stock, valued at approximately $998,000. Inspire Investing LLC owned approximately 0.15% of Daktronics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kovack Advisors Inc. increased its holdings in Daktronics by 22.8% in the 1st quarter. Kovack Advisors Inc. now owns 393,100 shares of the technology company’s stock worth $3,915,000 after buying an additional 72,900 shares in the last quarter. Breach Inlet Capital Management LLC purchased a new stake in shares of Daktronics during the 4th quarter valued at about $11,508,000. GSA Capital Partners LLP bought a new stake in shares of Daktronics in the first quarter worth approximately $586,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Daktronics during the first quarter valued at approximately $7,482,000. Finally, First Bank & Trust lifted its position in Daktronics by 29.5% during the first quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock valued at $9,932,000 after purchasing an additional 227,108 shares during the period. 61.69% of the stock is owned by institutional investors.

Insider Activity at Daktronics

In other Daktronics news, VP Matthew John Kurtenbach sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.03, for a total transaction of $45,090.00. Following the completion of the sale, the vice president now owns 208,906 shares of the company’s stock, valued at $3,139,857.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew John Kurtenbach sold 3,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.03, for a total transaction of $45,090.00. Following the completion of the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,139,857.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,811 shares of company stock worth $692,532. Corporate insiders own 8.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DAKT. Singular Research raised shares of 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 report on Friday, September 13th.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $12.44 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $575.92 million, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.45 and a beta of 1.14. The firm’s 50 day moving average price is $14.09 and its 200-day moving average price is $11.84. Daktronics, Inc. has a twelve month low of $7.20 and a twelve month high of $15.97.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share for the quarter, topping 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 the consensus estimate of $179.28 million. Equities research analysts expect that Daktronics, Inc. will post 0.89 EPS for the current year.

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.