Daktronics, Inc. $DAKT Position Lessened by First Bank & Trust

Key Points

• First Bank & Trust reduced its stake in Daktronics by 20.3% in Q2, holding 591,804 shares valued at approximately $8.95 million.
• Insider Sheila Mae Anderson sold 3,839 shares at an average price of $16.86, decreasing her ownership by 8.86%.
• Analysts upgraded Daktronics to a "strong-buy" rating, with an average price target of $26.00, following the company’s strong earnings report.

First Bank & Trust cut its position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 20.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 591,804 shares of the technology company's stock after selling 150,448 shares during the period. Daktronics makes up 1.6% of First Bank & Trust's holdings, making the stock its 9th largest position. First Bank & Trust owned approximately 1.21% of Daktronics worth $8,948,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Inspire Investing LLC raised its holdings in shares of Daktronics by 18.5% during the first quarter. Inspire Investing LLC now owns 28,141 shares of the technology company's stock valued at $343,000 after acquiring an additional 4,395 shares during the last quarter. Strs Ohio purchased a new position in shares of Daktronics during the first quarter worth $526,000. Empowered Funds LLC boosted its holdings in Daktronics by 2.1% in the first quarter. Empowered Funds LLC now owns 242,535 shares of the technology company's stock valued at $2,954,000 after purchasing an additional 4,926 shares during the period. Uniplan Investment Counsel Inc. lifted its holdings in Daktronics by 0.8% during the 1st quarter. Uniplan Investment Counsel Inc. now owns 348,160 shares of the technology company's stock worth $4,241,000 after buying an additional 2,669 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Daktronics by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock worth $295,000 after buying an additional 1,476 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company's stock.

Insider Activity

In related news, insider Sheila Mae Anderson sold 3,839 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $16.86, for a total transaction of $64,725.54. Following the transaction, the insider directly owned 39,495 shares of the company's stock, valued at approximately $665,885.70. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Friel sold 13,479 shares of the business's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $23.58, for a total transaction of $317,834.82. Following the completion of the transaction, the director owned 74,094 shares in the company, valued at $1,747,136.52. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,262 shares of company stock valued at $612,167 over the last ninety days. 5.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DAKT has been the topic of several recent research reports. Wall Street Zen upgraded Daktronics from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 14th. Zacks Research raised shares of Daktronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 11th. 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 MarketBeat.com, Daktronics currently has a consensus rating of "Strong Buy" and an average target price of $26.00.

Daktronics Price Performance

NASDAQ:DAKT traded down $0.60 on Friday, reaching $22.14. The stock had a trading volume of 1,254,268 shares, compared to its average volume of 516,429. Daktronics, Inc. has a 1-year low of $10.24 and a 1-year high of $24.38. The company has a market capitalization of $1.07 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 0.70 and a beta of 1.69. The company has a quick ratio of 1.54, a current ratio of 2.07 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average price of $17.72 and a 200-day moving average price of $15.10.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its earnings results on Wednesday, September 10th. The technology company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.24 by $0.09. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $196.90 million. Research analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current year.

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.