Progeny 3 Inc. Boosts Stake in Daktronics, Inc. (NASDAQ:DAKT)

Progeny 3 Inc. boosted its position in Daktronics, Inc. (NASDAQ:DAKT) by 140.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,794,908 shares of the technology company’s stock after acquiring an additional 1,047,156 shares during the quarter. Daktronics accounts for approximately 2.4% of Progeny 3 Inc.’s portfolio, making the stock its 16th largest holding. Progeny 3 Inc. owned about 3.88% of Daktronics worth $25,039,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Inspire Investing LLC purchased a new position in shares of Daktronics during the 2nd quarter valued at about $998,000. Sierra Summit Advisors LLC raised its stake in shares of Daktronics by 9.5% during the second quarter. Sierra Summit Advisors LLC now owns 69,060 shares of the technology company’s stock worth $963,000 after acquiring an additional 5,983 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after acquiring an additional 187,486 shares during the last quarter. LSV Asset Management boosted its stake in shares of Daktronics by 10.2% in the 2nd quarter. LSV Asset Management now owns 180,374 shares of the technology company’s stock valued at $2,516,000 after purchasing an additional 16,700 shares in the last quarter. Finally, Anchor Capital Advisors LLC boosted its stake in shares of Daktronics by 1.9% in the 2nd quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after purchasing an additional 2,778 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DAKT. StockNews.com downgraded shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Singular Research upgraded Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Daktronics Stock Down 1.8 %

Shares of NASDAQ DAKT opened at $11.91 on Tuesday. The firm’s fifty day moving average is $13.97 and its 200 day moving average is $11.93. Daktronics, Inc. has a 52 week low of $7.20 and a 52 week high of $15.97. 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 company has a market cap of $551.39 million, a price-to-earnings ratio of 19.52, a PEG ratio of 0.45 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $215.88 million for the quarter, compared to analysts’ expectations of $179.28 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. On average, equities research analysts expect that Daktronics, Inc. will post 0.89 earnings per share for the current year.

Insider Activity at Daktronics

In other news, CEO Reece A. Kurtenbach sold 15,000 shares of Daktronics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $13.87, for a total value 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 filing with the SEC, which is available through this link. In other news, CEO Reece A. Kurtenbach sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.87, for a total value of $208,050.00. Following the completion of the sale, the chief executive officer now directly owns 457,963 shares of the company’s stock, valued at approximately $6,351,946.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Matthew John Kurtenbach sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total transaction of $29,920.00. Following the transaction, the vice president now owns 208,906 shares in the company, valued at approximately $3,125,233.76. The disclosure for this sale can be found here. Insiders have sold a total of 48,811 shares of company stock worth $692,532 in the last 90 days. Company insiders own 8.30% of the company’s stock.

Daktronics Company 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.