Virtus Fund Advisers LLC cut its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,481,784 shares of the technology company’s stock after selling 58,182 shares during the quarter. Virtus Fund Advisers LLC owned about 3.33% of Daktronics worth $13,529,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Daktronics by 30.4% in the second quarter. Ameriprise Financial Inc. now owns 275,096 shares of the technology company’s stock valued at $2,649,000 after buying an additional 64,186 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Daktronics by 31.9% in the second quarter. Teachers Advisors LLC now owns 88,629 shares of the technology company’s stock worth $853,000 after acquiring an additional 21,427 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Daktronics by 13.9% in the second quarter. TIAA CREF Investment Management LLC now owns 138,455 shares of the technology company’s stock worth $1,333,000 after acquiring an additional 16,941 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Daktronics by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,589,435 shares of the technology company’s stock worth $24,936,000 after acquiring an additional 158,102 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Daktronics by 124.9% in the third quarter. American Century Companies Inc. now owns 144,739 shares of the technology company’s stock worth $1,530,000 after acquiring an additional 80,370 shares during the last quarter. Institutional investors own 54.56% of the company’s stock.
A number of analysts have recently issued reports on DAKT shares. Zacks Investment Research lowered Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 24th. BidaskClub upgraded Daktronics from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Finally, Sidoti began coverage on Daktronics in a research report on Wednesday, January 24th. They set a “neutral” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.50.
Daktronics, Inc. (NASDAQ:DAKT) opened at $8.99 on Wednesday. Daktronics, Inc. has a 1 year low of $7.84 and a 1 year high of $10.86. The company has a market capitalization of $420.28, a P/E ratio of 37.80 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.53 and a current ratio of 2.04.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Tuesday, February 20th. The technology company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.11). Daktronics had a return on equity of 5.56% and a net margin of 1.89%. The company had revenue of $130.32 million for the quarter, compared to analysts’ expectations of $123.84 million. During the same quarter in the previous year, the business posted ($0.12) EPS. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. analysts forecast that Daktronics, Inc. will post 0.36 EPS for the current year.
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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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