Charles Schwab Investment Management Inc. Lowers Position in Daktronics, Inc. $DAKT

Key Points

• Charles Schwab Investment Management Inc. sold 42,294 shares of Daktronics, reducing their holdings by 9.8% to approximately 387,419 shares worth $4.7 million.
• Insider Sheila Mae Anderson sold 3,839 shares of Daktronics, reflecting an 8.86% decrease in her position, and the company has an insider ownership of 5.30%.
• Analysts downgraded Daktronics from a "buy" to a "hold" rating, while maintaining an average target price of $26.00 despite some analysts rating the stock as a strong buy.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 387,419 shares of the technology company's stock after selling 42,294 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.74% of Daktronics worth $4,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Daktronics by 5,889.3% during the first quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock worth $88,000 after purchasing an additional 7,126 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Daktronics during the first quarter worth $121,000. Janney Montgomery Scott LLC bought a new stake in shares of Daktronics during the first quarter worth $135,000. Cornerstone Investment Partners LLC bought a new stake in shares of Daktronics during the first quarter worth $155,000. Finally, ProShare Advisors LLC bought a new stake in shares of Daktronics during the fourth quarter worth $190,000. 61.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Daktronics

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

Daktronics Stock Down 0.5%

Daktronics stock traded down $0.09 during trading hours on Wednesday, reaching $17.12. The stock had a trading volume of 10,473 shares, compared to its average volume of 412,940. The company has a market cap of $840.69 million, a price-to-earnings ratio of -38.90, 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. The business's 50 day moving average price is $16.50 and its 200-day moving average price is $14.64. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89.

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. Sell-side analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current year.

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.