Systematic Financial Management LP Buys 60,000 Shares of Daktronics, Inc. (DAKT)

Systematic Financial Management LP lifted its stake in Daktronics, Inc. (NASDAQ:DAKT) by 47.2% in the first quarter, HoldingsChannel.com reports. The firm owned 187,150 shares of the technology company’s stock after acquiring an additional 60,000 shares during the quarter. Systematic Financial Management LP’s holdings in Daktronics were worth $1,394,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new position in Daktronics in the fourth quarter valued at $30,000. BNP Paribas Arbitrage SA raised its stake in Daktronics by 407.4% in the first quarter. BNP Paribas Arbitrage SA now owns 7,525 shares of the technology company’s stock valued at $56,000 after buying an additional 6,042 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Daktronics in the fourth quarter valued at $66,000. PNC Financial Services Group Inc. raised its stake in Daktronics by 29.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,264 shares of the technology company’s stock valued at $68,000 after buying an additional 2,082 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Daktronics by 262.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,770 shares of the technology company’s stock valued at $72,000 after buying an additional 7,076 shares in the last quarter. Hedge funds and other institutional investors own 57.75% of the company’s stock.

Daktronics stock traded up $0.09 during midday trading on Friday, reaching $7.32. The company’s stock had a trading volume of 1,409 shares, compared to its average volume of 88,568. Daktronics, Inc. has a fifty-two week low of $7.12 and a fifty-two week high of $10.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.05 and a quick ratio of 1.49. The stock has a market cap of $324.99 million, a PE ratio of 32.86 and a beta of 1.02.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, February 20th. The technology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.04). Daktronics had a net margin of 1.04% and a return on equity of 3.01%. The business had revenue of $115.10 million during the quarter, compared to analyst estimates of $129.45 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. On average, research analysts expect that Daktronics, Inc. will post 0.13 earnings per share for the current fiscal year.

A number of analysts have weighed in on DAKT shares. TheStreet cut Daktronics from a “b-” rating to a “c” rating in a research note on Thursday, February 21st. BidaskClub cut Daktronics from a “buy” rating to a “hold” rating in a research note on Saturday, January 19th. Finally, Singular Research restated a “buy” rating on shares of Daktronics in a research note on Monday, March 4th.

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About Daktronics

Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.

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Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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