Dimensional Fund Advisors LP decreased its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT – Free Report) by 11.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,597,384 shares of the technology company’s stock after selling 209,924 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Daktronics were worth $31,228,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. increased its position in shares of Daktronics by 161.2% during the first quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock valued at $7,665,000 after purchasing an additional 241,969 shares during the period. OP Asset Management Ltd acquired a new stake in Daktronics during the 1st quarter valued at $2,133,000. Knights of Columbus Asset Advisors LLC bought a new position in shares of Daktronics in the fourth quarter valued at about $1,031,000. UBS Group AG increased its holdings in shares of Daktronics by 41.2% in the fourth quarter. UBS Group AG now owns 150,669 shares of the technology company’s stock valued at $2,979,000 after purchasing an additional 43,949 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new position in shares of Daktronics during the fourth quarter valued at $1,142,000. Institutional investors own 61.69% of the company’s stock.
Insider Activity at Daktronics
In other news, 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 value of $72,756.36. Following the completion of the sale, the insider owned 48,371 shares in the company, valued at $967,903.71. The trade was a 6.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bradley T. Wiemann sold 4,000 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the transaction, the executive vice president owned 125,946 shares in the company, valued at approximately $2,420,682.12. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.60% of the company’s stock.
Daktronics Stock Performance
Daktronics (NASDAQ:DAKT – Get Free Report) last issued its earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. The firm had revenue of $208.61 million for the quarter, compared to analyst estimates of $205.27 million. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. During the same quarter last year, the business posted ($0.19) earnings per share. As a group, research analysts expect that Daktronics, Inc. will post 1.21 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
DAKT has been the subject of several recent research reports. Weiss Ratings upgraded shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Roth Capital lifted 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. Zacks Research upgraded shares of Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Wall Street Zen cut shares of Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.
Read Our Latest Analysis on DAKT
About Daktronics
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.
Further Reading
- Five stocks we like better than Daktronics
- System Upgrade: First Internet Bancorp Options Surge
- AI Security Breaches Raise New Risks for Microsoft and Amazon’s Agent Push
- The AI Chip Blockade Is Creating a Shadow Market
- Grab Holdings Stock Forms Bottom After Strong Beat-and-Raise Quarter
Want to see what other hedge funds are holding DAKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Daktronics, Inc. (NASDAQ:DAKT – Free Report).
Receive News & Ratings for Daktronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daktronics and related companies with MarketBeat.com's FREE daily email newsletter.
