State of Wyoming Purchases Shares of 20,854 Daktronics, Inc. $DAKT

Key Points

• The State of Wyoming acquired 20,854 shares of Daktronics, Inc., valued at approximately $254,000, during the 1st quarter.
• Institutional investors currently own 61.69% of Daktronics' shares, with several firms increasing their stakes significantly in recent months.
• Analyst ratings for Daktronics have recently shifted, with Wall Street Zen lowering its rating from "buy" to "hold", while the average consensus rating remains "Strong Buy."

State of Wyoming bought a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,854 shares of the technology company's stock, valued at approximately $254,000.

Several other large investors also recently added to or reduced their stakes in DAKT. Bank of New York Mellon Corp increased its position 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 last quarter. Pacer Advisors Inc. purchased a new stake in shares of Daktronics during the first quarter worth approximately $4,631,000. Nuveen LLC purchased a new position in shares of Daktronics during the first quarter worth approximately $1,688,000. American Century Companies Inc. boosted its position in shares of Daktronics by 9.1% in the 1st quarter. American Century Companies Inc. now owns 1,514,624 shares of the technology company's stock worth $18,448,000 after buying an additional 126,340 shares in the last quarter. Finally, Progeny 3 Inc. increased its holdings 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 purchasing an additional 106,400 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors.

Insider Activity

In other Daktronics news, insider Sheila Mae Anderson sold 3,839 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the sale, the insider directly owned 39,495 shares in the company, valued at $665,885.70. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.30% of the company's stock.

Daktronics Trading Up 0.7%

DAKT stock traded up $0.13 during trading on Monday, reaching $17.51. The company had a trading volume of 179,261 shares, compared to its average volume of 409,709. The company has a market cap of $860.09 million, a P/E ratio of -39.94, a PEG ratio of 0.57 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.60. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89. The business has a 50 day moving average of $16.64 and a 200 day moving average of $14.65.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Daktronics had a positive return on equity of 15.29% and a negative net margin of 1.34%.The company had revenue of $172.55 million during the quarter, compared to analyst estimates of $189.10 million. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts forecast that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average price target of $26.00.

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.