Allspring Global Investments Holdings LLC Increases Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Allspring Global Investments Holdings LLC grew its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 642.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,950 shares of the technology company’s stock after acquiring an additional 28,510 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Daktronics worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Daktronics by 0.5% in the third quarter. Vanguard Group Inc. now owns 2,154,605 shares of the technology company’s stock valued at $19,219,000 after acquiring an additional 11,194 shares in the last quarter. Acadian Asset Management LLC raised its position in Daktronics by 15.6% during the third quarter. Acadian Asset Management LLC now owns 1,510,763 shares of the technology company’s stock valued at $13,471,000 after purchasing an additional 203,818 shares during the period. Invesco Ltd. raised its position in Daktronics by 21.0% during the third quarter. Invesco Ltd. now owns 761,239 shares of the technology company’s stock valued at $6,790,000 after purchasing an additional 132,223 shares during the period. Adirondack Retirement Specialists Inc. raised its position in Daktronics by 56.4% during the third quarter. Adirondack Retirement Specialists Inc. now owns 581,736 shares of the technology company’s stock valued at $5,189,000 after purchasing an additional 209,833 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in Daktronics by 5.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 478,204 shares of the technology company’s stock valued at $4,266,000 after purchasing an additional 23,469 shares during the period. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DAKT shares. StockNews.com downgraded Daktronics from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. TheStreet cut Daktronics from a “b-” rating to a “c+” rating in a research note on Friday, January 5th.

Daktronics Stock Performance

DAKT opened at $9.29 on Friday. The stock has a market cap of $429.11 million, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.28 and a beta of 1.08. The stock’s 50 day moving average price is $9.19 and its 200-day moving average price is $9.04. Daktronics, Inc. has a one year low of $4.66 and a one year high of $12.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 2.21.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, February 28th. The technology company reported ($0.03) EPS for the quarter. The business had revenue of $170.30 million for the quarter. Daktronics had a net margin of 6.59% and a return on equity of 30.57%. On average, equities analysts forecast that Daktronics, Inc. will post 1.12 EPS for the current year.

Daktronics Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.