HighTower Advisors LLC Invests $138,000 in Daktronics, Inc. $DAKT

HighTower Advisors LLC bought a new position in Daktronics, Inc. (NASDAQ:DAKT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,324 shares of the technology company’s stock, valued at approximately $138,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAKT. Price T Rowe Associates Inc. MD lifted its holdings in Daktronics by 31.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,599 shares of the technology company’s stock valued at $263,000 after buying an additional 3,746 shares in the last quarter. Northern Trust Corp grew its position in shares of Daktronics by 14.4% in the 4th quarter. Northern Trust Corp now owns 409,577 shares of the technology company’s stock worth $6,905,000 after buying an additional 51,643 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Daktronics in the 4th quarter worth approximately $247,000. Bank of America Corp DE grew its position in shares of Daktronics by 21.4% in the 4th quarter. Bank of America Corp DE now owns 52,722 shares of the technology company’s stock worth $889,000 after buying an additional 9,301 shares during the last quarter. Finally, Caption Management LLC increased its stake in Daktronics by 47.0% during the 4th quarter. Caption Management LLC now owns 14,700 shares of the technology company’s stock valued at $248,000 after purchasing an additional 4,700 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Insider Transactions at Daktronics

In related news, insider Sheila Mae Anderson sold 3,839 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $16.86, for a total transaction of $64,725.54. Following the completion of the sale, the insider directly owned 39,495 shares in the company, valued at approximately $665,885.70. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Daktronics from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and an average target price of $26.00.

Daktronics Stock Performance

NASDAQ DAKT opened at $17.44 on Friday. Daktronics, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $19.89. The firm has a market capitalization of $856.65 million, a P/E ratio of -39.64, a price-to-earnings-growth ratio of 0.56 and a beta of 1.69. The stock’s fifty day moving average is $16.60 and its two-hundred day moving average is $14.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Daktronics had a negative net margin of 1.34% and a positive return on equity of 15.29%. The firm had revenue of $172.55 million during the quarter, compared to analysts’ expectations of $189.10 million. During the same period last year, the business earned $0.27 earnings per share. On average, research analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Daktronics Company Profile

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.