Renaissance Technologies LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 19.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 708,000 shares of the technology company’s stock after purchasing an additional 116,200 shares during the period. Renaissance Technologies LLC’s holdings in Daktronics were worth $6,025,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DAKT. Cornerstone Wealth Management LLC bought a new position in shares of Daktronics in the 2nd quarter valued at about $700,000. Barclays PLC lifted its holdings in shares of Daktronics by 127.2% in the 1st quarter. Barclays PLC now owns 12,882 shares of the technology company’s stock valued at $114,000 after acquiring an additional 7,213 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Daktronics by 24.8% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,868 shares of the technology company’s stock valued at $339,000 after acquiring an additional 7,926 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Daktronics by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 299,980 shares of the technology company’s stock valued at $2,643,000 after acquiring an additional 8,342 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its holdings in shares of Daktronics by 10.2% in the 1st quarter. Suntrust Banks Inc. now owns 104,900 shares of the technology company’s stock valued at $924,000 after acquiring an additional 9,700 shares during the last quarter. 59.69% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:DAKT opened at $7.21 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Daktronics, Inc. has a 12 month low of $7.16 and a 12 month high of $10.74. The stock has a market capitalization of $349.58 million, a P/E ratio of 60.31 and a beta of 1.05.
Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Tuesday, August 21st. The technology company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.05). Daktronics had a return on equity of 2.96% and a net margin of 0.29%. The firm had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $168.52 million. During the same period last year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Monday, September 17th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Friday, September 14th.
A number of research analysts recently commented on the stock. ValuEngine raised shares of Daktronics from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. BidaskClub raised shares of Daktronics from a “sell” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Singular Research lowered their price target on shares of Daktronics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Friday, September 21st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Daktronics presently has an average rating of “Hold” and a consensus price target of $10.00.
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
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