HighTower Advisors LLC reduced its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,409 shares of the technology company’s stock after selling 1,248 shares during the period. HighTower Advisors LLC owned about 0.09% of Daktronics worth $383,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Denver Investment Advisors LLC bought a new stake in shares of Daktronics during the first quarter valued at $103,000. Highbridge Capital Management LLC bought a new stake in shares of Daktronics during the first quarter valued at $108,000. OLD National Bancorp IN boosted its stake in shares of Daktronics by 15.8% in the first quarter. OLD National Bancorp IN now owns 11,783 shares of the technology company’s stock valued at $111,000 after buying an additional 1,608 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in shares of Daktronics during the first quarter valued at $114,000. Finally, Investment Centers of America Inc. boosted its stake in shares of Daktronics by 16.1% in the first quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock valued at $129,000 after buying an additional 1,880 shares during the last quarter. Institutional investors and hedge funds own 51.25% of the company’s stock.
Shares of Daktronics, Inc. (DAKT) traded up 0.86% during mid-day trading on Friday, hitting $9.40. The company had a trading volume of 198,036 shares. The firm has a market capitalization of $415.32 million, a price-to-earnings ratio of 40.87 and a beta of 1.30. Daktronics, Inc. has a 52-week low of $6.83 and a 52-week high of $11.12. The firm has a 50-day moving average price of $9.63 and a 200 day moving average price of $9.55.
Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, May 31st. The technology company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Daktronics had a net margin of 1.76% and a return on equity of 5.14%. The company had revenue of $143.70 million during the quarter, compared to analyst estimates of $141.50 million. During the same quarter last year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Daktronics, Inc. will post $0.36 earnings per share for the current year.
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A number of research analysts have recently commented on the company. BidaskClub cut Daktronics from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research raised Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.17.
In other Daktronics news, Director John L. Mulligan sold 37,307 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $13.20, for a total value of $492,452.40. Following the completion of the transaction, the director now owns 67,182 shares in the company, valued at $886,802.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Mulligan sold 16,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $9.83, for a total transaction of $157,280.00. Following the completion of the transaction, the director now owns 72,953 shares of the company’s stock, valued at approximately $717,127.99. The disclosure for this sale can be found here. Insiders sold a total of 67,661 shares of company stock valued at $791,626 in the last quarter. 8.20% of the stock is owned by insiders.
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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