Rhumbline Advisers Boosts Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

Rhumbline Advisers boosted its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 10.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,749 shares of the technology company’s stock after purchasing an additional 5,689 shares during the period. Rhumbline Advisers owned about 0.12% of Daktronics worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. boosted its position in Daktronics by 20.0% in the second quarter. Principal Financial Group Inc. now owns 82,783 shares of the technology company’s stock worth $1,155,000 after purchasing an additional 13,774 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Daktronics by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 283,626 shares of the technology company’s stock valued at $3,957,000 after buying an additional 7,243 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after buying an additional 2,400 shares during the period. CWM LLC raised its stake in shares of Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after buying an additional 872 shares during the period. Finally, Progeny 3 Inc. bought a new stake in shares of Daktronics in the first quarter valued at $7,448,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on DAKT shares. StockNews.com lowered Daktronics from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Stock Performance

NASDAQ:DAKT opened at $11.91 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. Daktronics, Inc. has a 52-week low of $7.20 and a 52-week high of $15.97. The firm has a market cap of $551.39 million, a price-to-earnings ratio of 19.52, a PEG ratio of 0.45 and a beta of 1.14. The business’s fifty day moving average is $13.97 and its 200 day moving average is $11.93.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The company had revenue of $215.88 million for the quarter, compared to analyst estimates of $179.28 million. Research analysts predict that Daktronics, Inc. will post 0.89 EPS for the current year.

Insider Activity at Daktronics

In related news, CEO Reece A. Kurtenbach sold 15,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $13.87, for a total transaction of $208,050.00. Following the sale, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Daktronics news, CEO Reece A. Kurtenbach sold 15,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $13.87, for a total value of $208,050.00. Following the transaction, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Matthew John Kurtenbach sold 8,874 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $13.90, for a total value of $123,348.60. Following the completion of the transaction, the vice president now owns 208,906 shares in the company, valued at $2,903,793.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,811 shares of company stock worth $692,532. 8.30% of the stock is owned by company insiders.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.