Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 76,900 shares of the technology company’s stock, valued at approximately $1,504,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.16% of Daktronics at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Daktronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after buying an additional 1,476 shares during the last quarter. Empowered Funds LLC raised its position in shares of Daktronics by 2.1% during the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock worth $2,954,000 after purchasing an additional 4,926 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Daktronics by 31.4% during the second quarter. Rhumbline Advisers now owns 76,152 shares of the technology company’s stock valued at $1,151,000 after acquiring an additional 18,202 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,045 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Daktronics by 399.2% in the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after buying an additional 408,037 shares during the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on DAKT. Wall Street Zen lowered Daktronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Roth Capital boosted their target price on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Finally, Zacks Research upgraded Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.00.
Daktronics Trading Down 2.3%
NASDAQ DAKT opened at $19.94 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $20.15 and a 200 day moving average price of $21.10. The stock has a market capitalization of $962.70 million, a P/E ratio of 21.91, a P/E/G ratio of 0.67 and a beta of 1.68. Daktronics, Inc. has a 52-week low of $15.59 and a 52-week high of $28.27.
Daktronics (NASDAQ:DAKT – Get Free Report) last announced its quarterly earnings data on Wednesday, June 24th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. The firm had revenue of $208.61 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same quarter last year, the business earned ($0.19) earnings per share. Equities research analysts expect that Daktronics, Inc. will post 1.21 EPS for the current year.
Insider Buying and Selling at Daktronics
In other Daktronics news, EVP Bradley T. Wiemann sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the sale, the executive vice president directly owned 125,946 shares of the company’s stock, valued at approximately $2,420,682.12. This trade represents a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sheila Mae Anderson sold 3,636 shares of Daktronics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total transaction of $72,756.36. Following the completion of the transaction, the insider owned 48,371 shares in the company, valued at approximately $967,903.71. This trade represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.60% of the stock is owned by company insiders.
Daktronics Profile
Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.
The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.
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