Atria Investments Inc Buys Shares of 13,256 Daktronics, Inc. (NASDAQ:DAKT)

Atria Investments Inc bought a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,256 shares of the technology company’s stock, valued at approximately $171,000.

A number of other hedge funds have also made changes to their positions in the company. Duquesne Family Office LLC raised its holdings in shares of Daktronics by 20.3% during the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after acquiring an additional 420,161 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Daktronics by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after acquiring an additional 41,076 shares during the last quarter. Progeny 3 Inc. raised its holdings in shares of Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after acquiring an additional 187,486 shares during the last quarter. Finally, Meros Investment Management LP raised its holdings in shares of Daktronics by 1.6% during the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after acquiring an additional 7,885 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

DAKT has been the subject of several recent research reports. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Insiders Place Their Bets

In other Daktronics news, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by insiders.

Daktronics Price Performance

NASDAQ:DAKT opened at $14.88 on Monday. Daktronics, Inc. has a one year low of $7.20 and a one year high of $15.97. 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 stock has a market cap of $689.57 million, a PE ratio of 186.00, a P/E/G ratio of 0.53 and a beta of 1.14. The stock has a 50 day moving average price of $13.47 and a 200 day moving average price of $13.18.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. Equities research analysts expect that Daktronics, Inc. will post 0.89 EPS for the current fiscal year.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.