American Century Companies Inc. Has $18.45 Million Stock Holdings in Daktronics, Inc. $DAKT

Key Points

• American Century Companies Inc. raised its stake in Daktronics, Inc. by 9.1%, acquiring an additional 126,340 shares, bringing their total ownership to approximately 3.04% of the company.
• GAMMA Investing LLC dramatically increased its position in Daktronics by 5,889.3%, while other institutional investors also purchased new stakes, indicating a strong interest with 61.69% of the stock being held by institutional investors.
• Analysts have recently adjusted their ratings for Daktronics, with Wall Street Zen lowering the rating from "buy" to "hold", though the stock maintains an average rating of "Strong Buy" with a consensus price target of $26.00.

American Century Companies Inc. lifted its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 9.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,514,624 shares of the technology company's stock after purchasing an additional 126,340 shares during the quarter. American Century Companies Inc. owned 3.04% of Daktronics worth $18,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DAKT. Envestnet Asset Management Inc. lifted its position in shares of Daktronics by 26.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 37,192 shares of the technology company's stock worth $627,000 after purchasing an additional 7,688 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Daktronics by 51.6% in the fourth quarter. Legal & General Group Plc now owns 43,586 shares of the technology company's stock worth $735,000 after purchasing an additional 14,827 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Daktronics in the fourth quarter worth approximately $760,000. Barclays PLC lifted its position in shares of Daktronics by 19.2% in the fourth quarter. Barclays PLC now owns 69,593 shares of the technology company's stock worth $1,172,000 after purchasing an additional 11,205 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Daktronics by 16.2% in the fourth quarter. MetLife Investment Management LLC now owns 25,195 shares of the technology company's stock worth $425,000 after purchasing an additional 3,517 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Daktronics news, insider Sheila Mae Anderson sold 3,839 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.30% of the stock is currently owned by company insiders.

Daktronics Stock Down 0.6%

NASDAQ:DAKT traded down $0.10 during mid-day trading on Friday, reaching $17.35. The stock had a trading volume of 217,754 shares, compared to its average volume of 281,808. The business's 50 day moving average is $16.41 and its 200 day moving average is $14.63. Daktronics, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $19.89. The stock has a market cap of $852.23 million, a P/E ratio of -39.43, a PEG ratio of 0.57 and a beta of 1.65. 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 released its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, hitting 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 firm had revenue of $172.55 million for the quarter, compared to the consensus estimate of $189.10 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. As a group, sell-side analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Analyst Ratings Changes

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