Daktronics, Inc. (NASDAQ:DAKT) Position Trimmed by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Daktronics, Inc. (NASDAQ:DAKT) by 75.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,648 shares of the technology company’s stock after selling 62,135 shares during the quarter. Principal Financial Group Inc.’s holdings in Daktronics were worth $267,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DAKT. Northwestern Mutual Wealth Management Co. raised its stake in shares of Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after purchasing an additional 1,108 shares in the last quarter. CWM LLC increased its holdings in Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Daktronics by 150.0% during the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,400 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Daktronics in the first quarter valued at approximately $109,000. Finally, SG Americas Securities LLC bought a new stake in Daktronics in the third quarter worth approximately $188,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DAKT shares. Singular Research raised shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Insider Buying and Selling at Daktronics

In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares in the company, valued at $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares in the company, valued at $33,200. This represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Daktronics Trading Up 0.1 %

Daktronics stock opened at $14.90 on Tuesday. Daktronics, Inc. has a 52 week low of $7.20 and a 52 week high of $15.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The firm has a market capitalization of $690.47 million, a PE ratio of 186.25, a PEG ratio of 0.55 and a beta of 1.14. The business’s 50-day simple moving average is $13.51 and its 200-day simple moving average is $13.20.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The business had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. Equities research analysts forecast that Daktronics, Inc. will post 0.89 earnings per share for the current year.

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.