Victory Capital Management Inc. Boosts Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Victory Capital Management Inc. raised its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 31.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 191,799 shares of the technology company’s stock after purchasing an additional 46,104 shares during the quarter. Victory Capital Management Inc. owned 0.41% of Daktronics worth $2,476,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after purchasing an additional 1,108 shares during the last quarter. CWM LLC boosted its holdings in 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 purchasing an additional 872 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after acquiring an additional 2,400 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Daktronics during the 1st quarter worth about $105,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in shares of Daktronics during the 1st quarter worth about $109,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This represents a 22.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the stock in a transaction that occurred 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 directly owns 2,500 shares of the company’s stock, valued at approximately $33,200. This trade 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 Stock Up 3.8 %

DAKT opened at $14.88 on Friday. Daktronics, Inc. has a twelve month low of $7.20 and a twelve month high of $15.97. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $13.47 and a 200 day moving average price of $13.16. The company has a market cap of $689.57 million, a PE ratio of 186.00, a price-to-earnings-growth ratio of 0.53 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share 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 firm had revenue of $226.09 million during the quarter, compared to the consensus estimate of $216.84 million. Sell-side analysts expect that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Daktronics 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.