Daktronics, Inc. (NASDAQ:DAKT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 20.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,836 shares of the technology company’s stock after purchasing an additional 7,644 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Daktronics worth $546,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAKT. Alta Fox Capital Management LLC grew its stake in Daktronics by 310.7% in the 4th quarter. Alta Fox Capital Management LLC now owns 3,074,336 shares of the technology company’s stock valued at $51,833,000 after acquiring an additional 2,325,779 shares during the period. Bank of New York Mellon Corp grew its stake in Daktronics by 466.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,344,442 shares of the technology company’s stock valued at $16,375,000 after acquiring an additional 1,107,157 shares during the period. Invesco Ltd. grew its stake in Daktronics by 554.6% in the 4th quarter. Invesco Ltd. now owns 724,796 shares of the technology company’s stock valued at $12,220,000 after acquiring an additional 614,075 shares during the period. LPL Financial LLC grew its stake in Daktronics by 1,589.2% in the 4th quarter. LPL Financial LLC now owns 323,204 shares of the technology company’s stock valued at $5,449,000 after acquiring an additional 304,071 shares during the period. Finally, Progeny 3 Inc. grew its stake in Daktronics by 4.7% in the 4th quarter. Progeny 3 Inc. now owns 2,391,008 shares of the technology company’s stock valued at $40,312,000 after acquiring an additional 106,400 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Insiders Place Their Bets

In other Daktronics news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.90, for a total value of $14,900,000.00. Following the transaction, the insider owned 4,973,599 shares in the company, valued at approximately $74,106,625.10. This trade represents a 16.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Daktronics Trading Up 0.8%

Shares of DAKT stock opened at $16.83 on Wednesday. The stock’s fifty day moving average is $15.42 and its two-hundred day moving average is $14.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22. The firm has a market capitalization of $826.52 million, a P/E ratio of -38.25, a PEG ratio of 0.55 and a beta of 1.65. Daktronics, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $19.89.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The company had revenue of $172.55 million for the quarter, compared to analyst estimates of $189.10 million. Daktronics had a positive return on equity of 15.29% and a negative net margin of 1.34%. During the same quarter last year, the firm posted $0.27 EPS. Research analysts expect that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Sunday.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.