Pacer Advisors Inc. Has $2.55 Million Stake in Daktronics, Inc. $DAKT

Pacer Advisors Inc. reduced its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 21.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 128,874 shares of the technology company’s stock after selling 35,020 shares during the quarter. Pacer Advisors Inc.’s holdings in Daktronics were worth $2,548,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of DAKT. Invesco Ltd. raised its position in shares of Daktronics by 399.2% in the 2nd quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after acquiring an additional 408,037 shares during the period. Boston Partners acquired a new position in Daktronics during the fourth quarter valued at approximately $6,248,000. Breach Inlet Capital Management LLC grew its holdings in Daktronics by 32.8% during the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after purchasing an additional 314,133 shares during the period. Thrivent Financial for Lutherans bought a new stake in Daktronics in the fourth quarter valued at approximately $5,364,000. Finally, AQR Capital Management LLC raised its holdings in Daktronics by 322.5% in the fourth quarter. AQR Capital Management LLC now owns 314,874 shares of the technology company’s stock worth $6,225,000 after purchasing an additional 240,349 shares during the period. 61.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DAKT. Roth Mkm began coverage on shares of Daktronics in a research report on Wednesday, June 10th. They set a “buy” rating and a $26.00 price target on the stock. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 19th. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

Daktronics Stock Performance

Shares of DAKT stock opened at $20.11 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.68 and a current ratio of 2.22. Daktronics, Inc. has a 52 week low of $13.30 and a 52 week high of $28.27. The company’s 50 day moving average price is $19.88 and its two-hundred day moving average price is $21.06. The company has a market capitalization of $971.27 million, a P/E ratio of 36.56, a price-to-earnings-growth ratio of 0.54 and a beta of 1.66.

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.