Anthracite Investment Company Inc. Trims Position in Daktronics, Inc. (NASDAQ:DAKT)

Anthracite Investment Company Inc. lowered its position in Daktronics, Inc. (NASDAQ:DAKT) by 23.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,018 shares of the technology company’s stock after selling 78,000 shares during the quarter. Daktronics comprises about 1.4% of Anthracite Investment Company Inc.’s holdings, making the stock its 24th biggest holding. Anthracite Investment Company Inc.’s holdings in Daktronics were worth $3,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DAKT. Vanguard Group Inc. raised its position in Daktronics by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after purchasing an additional 41,076 shares during the period. Progeny 3 Inc. raised its holdings in Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares during the period. Privium Fund Management UK Ltd acquired a new position in Daktronics in the second quarter valued at about $1,338,000. Hexagon Capital Partners LLC boosted its stake in Daktronics by 150.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after buying an additional 2,400 shares during the period. Finally, American Century Companies Inc. boosted its stake in Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after buying an additional 187,486 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Daktronics Stock Up 2.5 %

Daktronics stock opened at $15.18 on Wednesday. The stock’s fifty day moving average is $13.34 and its two-hundred day moving average is $13.09. The stock has a market cap of $703.24 million, a PE ratio of 189.69, a P/E/G ratio of 0.54 and a beta of 1.14. Daktronics, Inc. has a 1-year low of $7.20 and a 1-year high of $15.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48.

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

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 value 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 approximately $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 can be accessed through the SEC website. Also, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares in the company, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

About Daktronics

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.