Strs Ohio Acquires Shares of 43,200 Daktronics, Inc. $DAKT

Key Points

• Strs Ohio has acquired 43,200 shares of Daktronics, Inc., valued at approximately $526,000, representing about 0.09% ownership of the company.
• Institutional investors own 61.69% of Daktronics, with hedge funds like SummerHaven Investment Management and Principal Financial Group increasing their stakes in the first quarter.
• Analysts have upgraded Daktronics to a strong-buy rating, with the stock having a consensus price target of $26.00, following better-than-expected earnings results.

Strs Ohio acquired a new position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,200 shares of the technology company's stock, valued at approximately $526,000. Strs Ohio owned 0.09% of Daktronics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. SummerHaven Investment Management LLC raised its holdings in shares of Daktronics by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock worth $686,000 after acquiring an additional 876 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Daktronics by 4.0% during the first quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock worth $284,000 after acquiring an additional 898 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Daktronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock worth $295,000 after acquiring an additional 1,476 shares during the period. XTX Topco Ltd raised its holdings in shares of Daktronics by 17.2% during the first quarter. XTX Topco Ltd now owns 17,469 shares of the technology company's stock worth $213,000 after acquiring an additional 2,566 shares during the period. Finally, Uniplan Investment Counsel Inc. raised its holdings in shares of Daktronics by 0.8% during the first quarter. Uniplan Investment Counsel Inc. now owns 348,160 shares of the technology company's stock worth $4,241,000 after acquiring an additional 2,669 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DAKT shares. Wall Street Zen upgraded shares of Daktronics from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Zacks Research upgraded shares of Daktronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Strong Buy" and an average price target of $26.00.

Daktronics Stock Up 0.1%

DAKT stock traded up $0.03 during midday trading on Monday, hitting $22.17. The company's stock had a trading volume of 687,775 shares, compared to its average volume of 560,485. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.54. Daktronics, Inc. has a twelve month low of $10.24 and a twelve month high of $24.38. The company's fifty day moving average price is $17.72 and its 200 day moving average price is $15.14. The stock has a market capitalization of $1.08 billion, a P/E ratio of 18.48, a PEG ratio of 0.68 and a beta of 1.69.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 earnings per share (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 for the quarter, compared to analyst estimates of $196.90 million. As a group, equities research analysts predict that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Activity

In related news, Director John Patrick Friel sold 13,479 shares of Daktronics stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.58, for a total transaction of $317,834.82. Following the completion of the sale, the director owned 74,094 shares of the company's stock, valued at approximately $1,747,136.52. The trade was a 15.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sheila Mae Anderson sold 3,839 shares of Daktronics 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 directly owned 39,495 shares of the company's stock, valued at $665,885.70. The trade was a 8.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,262 shares of company stock valued at $612,167 in the last quarter. Company insiders own 5.30% of the company's stock.

Daktronics Company 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.