Daktronics, Inc. (NASDAQ:DAKT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 466.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,344,442 shares of the technology company's stock after acquiring an additional 1,107,157 shares during the quarter. Bank of New York Mellon Corp owned about 2.57% of Daktronics worth $16,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in 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 purchasing an additional 898 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Daktronics in the 1st quarter worth about $135,000. Wealth Enhancement Advisory Services LLC raised its holdings in Daktronics by 132.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,239 shares of the technology company's stock worth $904,000 after purchasing an additional 42,349 shares during the period. SummerHaven Investment Management LLC raised its holdings in Daktronics by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock worth $686,000 after purchasing an additional 876 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in Daktronics in the 1st quarter worth about $121,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Daktronics Price Performance

Shares of Daktronics stock traded down $0.39 during mid-day trading on Friday, reaching $15.92. 294,907 shares of the stock traded hands, compared to its average volume of 466,368. The business has a 50-day moving average of $15.13 and a 200 day moving average of $14.59. 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 capitalization of $781.88 million, a PE ratio of -36.18, a PEG ratio of 0.52 and a beta of 1.60. The company has a quick ratio of 1.60, a current ratio of 2.22 and a debt-to-equity ratio of 0.19.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $189.10 million. During the same quarter last year, the firm earned $0.27 earnings per share. On average, analysts predict that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Activity at Daktronics

In related news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the business's stock in a transaction dated 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 transaction, the insider owned 4,973,599 shares in the company, valued at $74,106,625.10. The trade was a 16.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.50% of the company's stock.

Daktronics 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.