HB Wealth Management LLC Makes New Investment in Daktronics, Inc. (NASDAQ:DAKT)

HB Wealth Management LLC acquired a new position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 36,346 shares of the technology company's stock, valued at approximately $443,000. HB Wealth Management LLC owned 0.07% of Daktronics as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings in Daktronics by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock valued at $686,000 after buying an additional 876 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Daktronics by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock valued at $284,000 after acquiring an additional 898 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in shares of Daktronics by 29.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock valued at $71,000 after acquiring an additional 965 shares during the last quarter. Gallagher Fiduciary Advisors LLC boosted its position in shares of Daktronics by 18.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 14,793 shares of the technology company's stock valued at $249,000 after acquiring an additional 2,267 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Daktronics by 11.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,734 shares of the technology company's stock valued at $383,000 after acquiring an additional 2,407 shares during the last quarter. Institutional investors own 61.69% of the company's stock.

Insider Activity

In related news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $14.90, for a total value of $14,900,000.00. Following the sale, the insider owned 4,973,599 shares in the company, valued at $74,106,625.10. This represents a 16.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Daktronics from a "buy" rating to a "hold" rating in a research note on Sunday.

Daktronics Trading Up 1.9%

Shares of NASDAQ:DAKT traded up $0.31 on Monday, hitting $16.40. 42,297 shares of the company's stock were exchanged, compared to its average volume of 433,104. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $19.89. The stock has a market capitalization of $805.45 million, a price-to-earnings ratio of -37.27, a price-to-earnings-growth ratio of 0.53 and a beta of 1.65. The business's 50 day simple moving average is $15.38 and its two-hundred day simple moving average is $14.57. 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 (NASDAQ:DAKT - Get Free Report) last announced its earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Daktronics had a negative net margin of 1.34% and a positive return on equity of 15.29%. The business had revenue of $172.55 million during the quarter, compared to the consensus estimate of $189.10 million. During the same period in the previous year, the company posted $0.27 earnings per share. Analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current fiscal 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.