Marathon Capital Management lessened its position in Daseke Inc (NASDAQ:DSKE) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 564,150 shares of the company’s stock after selling 5,100 shares during the quarter. Daseke comprises 0.8% of Marathon Capital Management’s holdings, making the stock its 22nd largest position. Marathon Capital Management’s holdings in Daseke were worth $2,030,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wittenberg Investment Management Inc. increased its position in Daseke by 0.7% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 688,470 shares of the company’s stock worth $2,478,000 after purchasing an additional 4,800 shares during the period. Timucuan Asset Management Inc. FL acquired a new position in Daseke during the 1st quarter worth approximately $153,000. Kennedy Capital Management Inc. increased its position in Daseke by 9.4% during the 1st quarter. Kennedy Capital Management Inc. now owns 475,496 shares of the company’s stock worth $2,420,000 after purchasing an additional 40,792 shares during the period. IndexIQ Advisors LLC acquired a new position in Daseke during the 1st quarter worth approximately $1,276,000. Finally, Kovack Advisors Inc. increased its position in Daseke by 279.3% during the 1st quarter. Kovack Advisors Inc. now owns 40,400 shares of the company’s stock worth $206,000 after purchasing an additional 29,750 shares during the period. Institutional investors and hedge funds own 33.00% of the company’s stock.
Several equities analysts have issued reports on the company. ValuEngine upgraded Daseke from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th. Northland Securities assumed coverage on Daseke in a research report on Tuesday, May 21st. They set a “buy” rating and a $8.50 target price on the stock. Cowen reiterated a “buy” rating and set a $6.50 target price on shares of Daseke in a research report on Monday, May 6th. BidaskClub cut Daseke from a “hold” rating to a “sell” rating in a research report on Friday, June 21st. Finally, Zacks Investment Research cut Daseke from a “hold” rating to a “strong sell” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.50.
Shares of NASDAQ:DSKE traded down $0.90 during trading on Monday, hitting $2.63. 14,317 shares of the stock were exchanged, compared to its average volume of 173,717. The company has a fifty day simple moving average of $3.68. The company has a market capitalization of $227.97 million, a P/E ratio of 4.17 and a beta of 1.10. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.34 and a current ratio of 1.34. Daseke Inc has a 12-month low of $3.13 and a 12-month high of $9.82.
Daseke (NASDAQ:DSKE) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. The business had revenue of $433.00 million for the quarter, compared to analyst estimates of $420.96 million. Daseke had a positive return on equity of 5.50% and a negative net margin of 0.80%. The company’s quarterly revenue was up 32.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 EPS. As a group, research analysts predict that Daseke Inc will post -0.36 EPS for the current year.
Daseke, Inc provides transportation and logistics solutions with a focus on flatbed and specialized freight in North America. It operates through two segments, Flatbed Solutions and Specialized Solutions. The company transports aircraft parts, manufacturing equipment, structural steel, pressure vessels, wind turbine blades, heavy machinery, commercial glass, high security cargo, arms, ammunition and explosives, lumber, and building and construction materials.
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