West Tower Group LLC Has $555,000 Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

West Tower Group LLC decreased its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,000 shares of the technology company’s stock after selling 2,000 shares during the period. Daktronics accounts for approximately 1.2% of West Tower Group LLC’s holdings, making the stock its 20th biggest holding. West Tower Group LLC owned about 0.09% of Daktronics worth $555,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Progeny 3 Inc. raised its holdings in Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after purchasing an additional 1,047,156 shares during the last quarter. Duquesne Family Office LLC raised its holdings in Daktronics by 20.3% during the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the last quarter. Foundry Partners LLC bought a new stake in Daktronics during the 3rd quarter worth about $4,101,000. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock worth $5,834,000 after purchasing an additional 195,830 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Daktronics by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after purchasing an additional 187,486 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 directly owns 2,500 shares of the company’s stock, valued at approximately $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DAKT. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Price Performance

NASDAQ DAKT opened at $14.90 on Tuesday. The business has a 50 day simple moving average of $13.51 and a 200 day simple moving average of $13.20. Daktronics, Inc. has a 52-week low of $7.20 and a 52-week 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 $690.47 million, a price-to-earnings ratio of 186.25, a PEG ratio of 0.55 and a beta of 1.14.

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

Daktronics 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.