Ameriprise Financial Inc. reduced its position in Daktronics, Inc. (NASDAQ:DAKT) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,354 shares of the technology company’s stock after selling 38,742 shares during the period. Ameriprise Financial Inc. owned 0.53% of Daktronics worth $2,498,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. UBS Asset Management Americas Inc. raised its position in Daktronics by 0.5% during the second quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock valued at $116,000 after purchasing an additional 64 shares during the period. Wells Fargo & Company MN grew its stake in shares of Daktronics by 2.2% during the second quarter. Wells Fargo & Company MN now owns 28,495 shares of the technology company’s stock valued at $275,000 after buying an additional 620 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Daktronics by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 148,989 shares of the technology company’s stock valued at $1,435,000 after buying an additional 912 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Daktronics by 4.6% during the second quarter. The Manufacturers Life Insurance Company now owns 31,309 shares of the technology company’s stock valued at $301,000 after buying an additional 1,368 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Daktronics by 6.5% during the second quarter. Thrivent Financial For Lutherans now owns 24,350 shares of the technology company’s stock valued at $234,000 after buying an additional 1,490 shares during the last quarter. Institutional investors and hedge funds own 53.63% of the company’s stock.
In other news, insider Carla S. Gatzke sold 2,996 shares of Daktronics stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $10.27, for a total transaction of $30,768.92. Following the completion of the sale, the insider now owns 435,063 shares of the company’s stock, valued at $4,468,097.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.20% of the company’s stock.
Shares of Daktronics, Inc. (NASDAQ:DAKT) opened at $9.34 on Friday. Daktronics, Inc. has a twelve month low of $7.84 and a twelve month high of $10.86. The company has a market capitalization of $418.06, a price-to-earnings ratio of 37.36 and a beta of 1.23. The company has a current ratio of 2.04, a quick ratio of 1.53 and a debt-to-equity ratio of 0.07.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Tuesday, November 21st. The technology company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Daktronics had a net margin of 1.89% and a return on equity of 5.56%. The business had revenue of $169.30 million for the quarter, compared to analyst estimates of $172.55 million. During the same period in the prior year, the business earned $0.20 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. sell-side analysts expect that Daktronics, Inc. will post 0.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Monday, December 11th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, December 8th. Daktronics’s dividend payout ratio is 112.00%.
Several brokerages recently issued reports on DAKT. TheStreet raised Daktronics from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. BidaskClub lowered Daktronics from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded Daktronics from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd.
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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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