Invesco Ltd. Reduces Holdings in Daktronics, Inc. $DAKT

Invesco Ltd. decreased its position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 85.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,206 shares of the technology company's stock after selling 622,590 shares during the quarter. Invesco Ltd. owned about 0.20% of Daktronics worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in Daktronics by 5,889.3% in the 1st quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock worth $88,000 after acquiring an additional 7,126 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Daktronics in the 1st quarter worth approximately $121,000. Janney Montgomery Scott LLC purchased a new stake in Daktronics in the 1st quarter worth approximately $135,000. Cornerstone Investment Partners LLC purchased a new stake in Daktronics in the 1st quarter worth approximately $155,000. Finally, ProShare Advisors LLC purchased a new stake in Daktronics in the 4th quarter worth approximately $190,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Trading Down 0.3%

Shares of NASDAQ:DAKT traded down $0.06 during trading on Friday, reaching $17.38. 170,330 shares of the stock were exchanged, compared to its average volume of 270,447. The firm's 50-day moving average price is $16.64 and its 200 day moving average price is $14.66. The firm has a market cap of $853.71 million, a price-to-earnings ratio of -39.50, a price-to-earnings-growth ratio of 0.57 and a beta of 1.69. Daktronics, Inc. has a 12-month low of $10.24 and a 12-month high of $19.89. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The technology company reported $0.18 earnings per share for the quarter, meeting 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 firm had revenue of $172.55 million for the quarter, compared to analysts' expectations of $189.10 million. During the same period in the previous year, the company posted $0.27 earnings per share. On average, sell-side analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Transactions at Daktronics

In other Daktronics news, insider Sheila Mae Anderson sold 3,839 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $16.86, for a total transaction of $64,725.54. Following the completion of the sale, the insider directly owned 39,495 shares in the company, valued at $665,885.70. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Daktronics from a "hold" rating to a "buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus price target 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.