Smith Asset Management Group LP Has $210,000 Stake in Daktronics, Inc. (DAKT)
Smith Asset Management Group LP lowered its stake in Daktronics, Inc. (NASDAQ:DAKT) by 31.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,760 shares of the technology company’s stock after selling 9,910 shares during the period. Smith Asset Management Group LP’s holdings in Daktronics were worth $210,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of DAKT. Denver Investment Advisors LLC bought a new position in Daktronics during the first quarter valued at approximately $103,000. Highbridge Capital Management LLC bought a new position in Daktronics during the first quarter valued at approximately $108,000. OLD National Bancorp IN increased its position in Daktronics by 15.8% in the first quarter. OLD National Bancorp IN now owns 11,783 shares of the technology company’s stock valued at $111,000 after buying an additional 1,608 shares during the period. UBS Asset Management Americas Inc. bought a new position in Daktronics during the first quarter valued at approximately $114,000. Finally, Investment Centers of America Inc. increased its position in Daktronics by 16.1% in the first quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock valued at $129,000 after buying an additional 1,880 shares during the period. Institutional investors and hedge funds own 50.63% of the company’s stock.
Daktronics, Inc. (NASDAQ:DAKT) opened at 9.61 on Wednesday. The company’s 50 day moving average price is $9.62 and its 200 day moving average price is $9.52. The company has a market cap of $424.60 million, a P/E ratio of 41.78 and a beta of 1.30. Daktronics, Inc. has a 52-week low of $6.75 and a 52-week high of $11.12.
Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, May 31st. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.04. The company had revenue of $143.70 million for the quarter, compared to analyst estimates of $141.50 million. Daktronics had a return on equity of 5.14% and a net margin of 1.76%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. Equities research analysts anticipate that Daktronics, Inc. will post $0.36 EPS for the current fiscal year.
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Several research firms recently commented on DAKT. BidaskClub upgraded Daktronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Daktronics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Daktronics has a consensus rating of “Hold” and a consensus price target of $12.17.
In related news, Director John L. Mulligan sold 16,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $9.83, for a total transaction of $157,280.00. Following the sale, the director now owns 72,953 shares of the company’s stock, valued at $717,127.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Mulligan sold 37,307 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $13.20, for a total value of $492,452.40. Following the sale, the director now directly owns 67,182 shares in the company, valued at approximately $886,802.40. The disclosure for this sale can be found here. Insiders have sold 67,661 shares of company stock worth $791,626 in the last three months. 8.20% of the stock is currently owned by company insiders.
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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