Monarch Partners Asset Management LLC decreased its position in Daseke Inc (NASDAQ:DSKE) by 68.5% during the third quarter, HoldingsChannel.com reports. The fund owned 59,075 shares of the company’s stock after selling 128,495 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Daseke were worth $474,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE increased its position in shares of Daseke by 23.5% in the third quarter. US Bancorp DE now owns 625,875 shares of the company’s stock valued at $5,020,000 after acquiring an additional 118,974 shares during the period. Russell Investments Group Ltd. increased its position in shares of Daseke by 497.5% in the third quarter. Russell Investments Group Ltd. now owns 310,900 shares of the company’s stock valued at $2,493,000 after acquiring an additional 258,867 shares during the period. Northern Trust Corp increased its position in shares of Daseke by 20.4% in the second quarter. Northern Trust Corp now owns 471,155 shares of the company’s stock valued at $4,678,000 after acquiring an additional 79,915 shares during the period. Bank of New York Mellon Corp increased its position in shares of Daseke by 43.4% in the second quarter. Bank of New York Mellon Corp now owns 144,063 shares of the company’s stock valued at $1,431,000 after acquiring an additional 43,602 shares during the period. Finally, Arbor Wealth Management LLC purchased a new position in shares of Daseke in the second quarter valued at about $2,067,000. Hedge funds and other institutional investors own 37.85% of the company’s stock.
A number of equities analysts have issued reports on DSKE shares. BidaskClub upgraded shares of Daseke from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Cowen restated a “buy” rating and issued a $15.00 price objective on shares of Daseke in a research report on Friday, August 10th. Finally, Craig Hallum cut shares of Daseke from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $14.88.
Shares of DSKE opened at $5.66 on Wednesday. The stock has a market cap of $391.18 million, a PE ratio of -9.43 and a beta of 1.42. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.19 and a current ratio of 2.19. Daseke Inc has a 1-year low of $5.33 and a 1-year high of $14.52.
Daseke (NASDAQ:DSKE) last announced its earnings results on Tuesday, November 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $461.59 million for the quarter, compared to the consensus estimate of $430.29 million. Daseke had a net margin of 4.32% and a return on equity of 1.78%. The company’s revenue for the quarter was up 99.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. Research analysts expect that Daseke Inc will post 0.14 EPS for the current year.
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Daseke, Inc provides transportation and logistics solutions with a focus on flatbed and specialized freight in North America. It operates through Flatbed Solutions and Specialized Solutions segments. The company transports heavy haul freight, defense and commercial arms, ammunition and explosives, radioactive cargo and hazardous materials, and commercial sheet glass, as well as offers 10-wheel drive-away services.
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