Sierra Summit Advisors LLC Purchases 5,983 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Sierra Summit Advisors LLC grew its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,060 shares of the technology company’s stock after purchasing an additional 5,983 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Daktronics were worth $963,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in Daktronics by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after purchasing an additional 187,486 shares during the period. LSV Asset Management lifted its holdings in shares of Daktronics by 10.2% during the second quarter. LSV Asset Management now owns 180,374 shares of the technology company’s stock worth $2,516,000 after buying an additional 16,700 shares during the last quarter. Anchor Capital Advisors LLC boosted its position in shares of Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after acquiring an additional 2,778 shares during the period. Victory Capital Management Inc. grew its stake in shares of Daktronics by 4.2% in the second quarter. Victory Capital Management Inc. now owns 145,695 shares of the technology company’s stock worth $2,032,000 after acquiring an additional 5,838 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in Daktronics during the second quarter worth $1,338,000. 61.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Daktronics

In related news, VP Matthew John Kurtenbach sold 8,874 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $13.90, for a total value of $123,348.60. Following the sale, the vice president now owns 208,906 shares of the company’s stock, valued at $2,903,793.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Matthew John Kurtenbach sold 8,874 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $13.90, for a total value of $123,348.60. Following the sale, the vice president now owns 208,906 shares of the company’s stock, valued at approximately $2,903,793.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bradley T. Wiemann sold 1,839 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $14.66, for a total value of $26,959.74. Following the transaction, the executive vice president now owns 108,743 shares of the company’s stock, valued at $1,594,172.38. The disclosure for this sale can be found here. In the last three months, insiders sold 48,811 shares of company stock valued at $692,532. Company insiders own 8.30% of the company’s stock.

Daktronics Price Performance

Shares of NASDAQ:DAKT opened at $12.56 on Monday. The firm has a market capitalization of $581.48 million, a PE ratio of 20.59, a PEG ratio of 0.45 and a beta of 1.14. The company has a current ratio of 2.17, a quick ratio of 1.48 and a debt-to-equity ratio of 0.48. Daktronics, Inc. has a 1-year low of $7.20 and a 1-year high of $15.97. The business’s 50 day moving average is $14.16 and its 200-day moving average is $11.78.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.13. The firm had revenue of $215.88 million for the quarter, compared to the consensus estimate of $179.28 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. Sell-side analysts predict that Daktronics, Inc. will post 0.89 earnings per share 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.