Daktronics, Inc. $DAKT Position Reduced by SG Americas Securities LLC

Key Points

• SG Americas Securities cut its Daktronics stake by 72.0% in Q4, selling 70,542 shares and leaving it with 27,381 shares worth about $541,000 (≈0.06% of the company).
• Other institutional investors showed mixed activity—American Century, Squarepoint and Federated Hermes increased positions—leaving institutional/hedge-fund ownership at 61.69%.
• Daktronics recently missed quarterly EPS (reported $0.09 vs. $0.18 expected) and the stock trades with a market cap of about $961M and a 12‑month range of $11.78–$28.27.

SG Americas Securities LLC trimmed its stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 72.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,381 shares of the technology company's stock after selling 70,542 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of Daktronics worth $541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versor Investments LP acquired a new stake in shares of Daktronics during the third quarter worth $808,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Daktronics during the third quarter worth $540,000. American Century Companies Inc. raised its holdings in shares of Daktronics by 2.8% during the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company's stock worth $34,825,000 after purchasing an additional 44,731 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Daktronics by 74.5% during the second quarter. Squarepoint Ops LLC now owns 116,413 shares of the technology company's stock worth $1,760,000 after purchasing an additional 49,684 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Daktronics by 38.8% during the third quarter. Federated Hermes Inc. now owns 102,266 shares of the technology company's stock worth $2,139,000 after purchasing an additional 28,612 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DAKT. Zacks Research cut shares of Daktronics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Daktronics in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Daktronics currently has an average rating of "Hold".

Daktronics Stock Performance

Shares of DAKT stock opened at $19.90 on Monday. Daktronics, Inc. has a 12-month low of $11.78 and a 12-month high of $28.27. The firm has a market capitalization of $961.17 million, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 0.63 and a beta of 1.77. The business has a 50 day simple moving average of $23.00 and a 200 day simple moving average of $20.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68.

Daktronics (NASDAQ:DAKT - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.09). Daktronics had a return on equity of 16.55% and a net margin of 3.43%.The business had revenue of $181.87 million during the quarter, compared to the consensus estimate of $181.00 million. On average, equities research analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current year.

Daktronics Profile

Daktronics, Inc NASDAQ: DAKT is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company's primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.

Want to see what other hedge funds are holding DAKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Daktronics, Inc. (NASDAQ:DAKT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.