AlphaQuest LLC Cuts Stock Holdings in Daktronics, Inc. $DAKT

AlphaQuest LLC lowered its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 54.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,425 shares of the technology company’s stock after selling 11,261 shares during the quarter. AlphaQuest LLC’s holdings in Daktronics were worth $143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of DAKT. Janney Montgomery Scott LLC purchased a new stake in Daktronics during the 1st quarter worth about $135,000. Principal Financial Group Inc. increased its stake in shares of Daktronics by 4.0% during the first quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company’s stock worth $284,000 after buying an additional 898 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Daktronics by 466.6% during the first quarter. Bank of New York Mellon Corp now owns 1,344,442 shares of the technology company’s stock worth $16,375,000 after buying an additional 1,107,157 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Daktronics by 20.6% during the first quarter. Envestnet Asset Management Inc. now owns 44,836 shares of the technology company’s stock worth $546,000 after buying an additional 7,644 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Daktronics in the 1st quarter valued at approximately $155,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Insider Buying and Selling

In related news, insider Sheila Mae Anderson sold 3,839 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total transaction of $64,725.54. Following the transaction, the insider owned 39,495 shares in the company, valued at $665,885.70. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Carla S. Gatzke sold 9,944 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $23.09, for a total transaction of $229,606.96. Following the transaction, the vice president owned 721,036 shares in the company, valued at approximately $16,648,721.24. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,262 shares of company stock worth $612,167 in the last quarter. 5.30% of the stock is owned by insiders.

Daktronics Trading Up 2.8%

NASDAQ DAKT opened at $19.31 on Tuesday. The firm’s fifty day moving average price is $19.89 and its 200 day moving average price is $16.84. The company has a market capitalization of $937.11 million, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 0.60 and a beta of 1.69. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $24.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.54.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, September 10th. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. The company had revenue of $218.97 million for the quarter, compared to analyst estimates of $196.90 million. Daktronics had a return on equity of 14.64% and a net margin of 1.51%. On average, sell-side analysts expect that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DAKT shares. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 11th. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Daktronics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $26.00.

Daktronics 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.