Nuveen LLC Makes New $1.69 Million Investment in Daktronics, Inc. $DAKT

Key Points

• Nuveen LLC has acquired 138,552 shares of Daktronics, Inc. valued at approximately $1.69 million, representing about 0.28% of the company's stock.
• Deutsche Bank AG and Barclays PLC have increased their holdings in Daktronics, boosting their stakes by 55.8% and 19.2%, respectively, in the past quarter.
• Wall Street Zen downgraded Daktronics from a "buy" to a "hold" rating; the stock currently has an average target price of $26.00 from analysts.

Nuveen LLC purchased a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 138,552 shares of the technology company's stock, valued at approximately $1,688,000. Nuveen LLC owned 0.28% of Daktronics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of DAKT. Alta Fox Capital Management LLC raised its holdings in Daktronics by 310.7% during the fourth 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 raised its holdings in 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 valued at $16,375,000 after acquiring an additional 1,107,157 shares during the period. Pacer Advisors Inc. bought a new stake in Daktronics during the first quarter valued at about $4,631,000. Progeny 3 Inc. raised its holdings in Daktronics by 4.7% during the fourth 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. Finally, Mackenzie Financial Corp bought a new stake in Daktronics during the first quarter valued at about $1,014,000. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Up 0.5%

DAKT traded up $0.09 on Thursday, hitting $17.13. The company had a trading volume of 7,465 shares, compared to its average volume of 411,884. The company has a market cap of $841.20 million, a PE ratio of -38.88, a PEG ratio of 0.57 and a beta of 1.69. Daktronics, Inc. has a 12-month low of $10.24 and a 12-month high of $19.89. The company has a quick ratio of 1.60, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $16.55 and its 200 day simple moving average is $14.65.

Daktronics (NASDAQ:DAKT - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $172.55 million during 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 business posted $0.27 earnings per share. Equities research analysts expect that Daktronics, Inc. will post 0.96 EPS for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Daktronics from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average price target of $26.00.

Insider Transactions at Daktronics

In other Daktronics 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 value of $64,725.54. Following the completion of the sale, the insider owned 39,495 shares of the company's stock, valued at $665,885.70. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.30% of the stock is currently owned by insiders.

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.