Bank of New York Mellon Corp Sells 20,857 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Bank of New York Mellon Corp reduced its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 8.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 237,285 shares of the technology company’s stock after selling 20,857 shares during the period. Bank of New York Mellon Corp owned 0.50% of Daktronics worth $4,001,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAKT. Atria Investments Inc acquired a new stake in shares of Daktronics in the third quarter valued at about $171,000. GSA Capital Partners LLP acquired a new position in shares of Daktronics during the 3rd quarter worth approximately $436,000. Victory Capital Management Inc. raised its stake in shares of Daktronics by 31.6% during the 3rd quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company’s stock worth $2,476,000 after purchasing an additional 46,104 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Daktronics by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 226,070 shares of the technology company’s stock worth $2,919,000 after purchasing an additional 11,524 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Daktronics in the 3rd quarter valued at approximately $391,000. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Down 0.9 %

Shares of NASDAQ:DAKT opened at $12.59 on Wednesday. The company has a 50-day simple moving average of $15.49 and a 200 day simple moving average of $14.92. The company has a market capitalization of $628.15 million, a P/E ratio of 50.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics, Inc. has a 52-week low of $8.81 and a 52-week high of $19.89.

Analyst Upgrades and Downgrades

Separately, Craig Hallum started coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 price target on the stock.

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.