West Tower Group LLC Sells 2,000 Shares of Daktronics, Inc. (NASDAQ:DAKT)

West Tower Group LLC decreased its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 4.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 43,000 shares of the technology company’s stock after selling 2,000 shares during the quarter. Daktronics makes up approximately 1.2% of West Tower Group LLC’s portfolio, making the stock its 20th largest position. West Tower Group LLC’s holdings in Daktronics were worth $555,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DAKT. Northwestern Mutual Wealth Management Co. increased its position in shares of Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares during the period. CWM LLC increased its position in shares of Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,400 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Daktronics in the first quarter worth $109,000. Finally, Atria Investments Inc bought a new position in shares of Daktronics in the third quarter worth $171,000. Institutional investors own 61.69% of the company’s stock.

Daktronics Stock Performance

NASDAQ:DAKT opened at $14.90 on Tuesday. The stock’s 50-day simple moving average is $13.51 and its 200 day simple moving average is $13.20. The firm has a market capitalization of $690.47 million, a PE ratio of 186.25, a price-to-earnings-growth ratio of 0.55 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. Daktronics, Inc. has a twelve month low of $7.20 and a twelve month high of $15.97.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. 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.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics 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 of the company’s stock, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the sale, the vice president now directly owns 2,500 shares in the company, valued at $33,200. The trade was a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

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.