Money Concepts Capital Corp Sells 51,859 Shares of Daktronics, Inc. $DAKT

Money Concepts Capital Corp decreased its position in Daktronics, Inc. (NASDAQ:DAKT) by 48.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 56,230 shares of the technology company’s stock after selling 51,859 shares during the period. Money Concepts Capital Corp’s holdings in Daktronics were worth $1,099,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Daktronics during the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Daktronics by 22,566.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,354 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Daktronics by 204.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares during the period. Clearstead Advisors LLC acquired a new position in Daktronics in the fourth quarter valued at about $57,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Daktronics by 66.8% in the second quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after acquiring an additional 1,561 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DAKT shares. Roth Capital raised their price target on Daktronics from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Zacks Research upgraded Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Wall Street Zen cut Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings upgraded shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Daktronics currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Insider Activity

In related news, insider Sheila Mae Anderson sold 3,636 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total transaction of $72,756.36. Following the completion of the transaction, the insider directly owned 48,371 shares in the company, valued at approximately $967,903.71. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.30% of the company’s stock.

Daktronics Stock Down 2.9%

NASDAQ DAKT traded down $0.60 on Friday, reaching $19.92. The company had a trading volume of 581,741 shares, compared to its average volume of 606,440. The company’s fifty day moving average is $20.01 and its 200-day moving average is $21.14. The firm has a market capitalization of $961.74 million, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.74 and a current ratio of 2.31. Daktronics, Inc. has a 1-year low of $15.59 and a 1-year high of $28.27.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.During the same quarter last year, the business posted ($0.19) EPS. On average, research analysts forecast that Daktronics, Inc. will post 1.21 earnings per share for the current fiscal 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.