Capital Investment Counsel Inc Reduces Stake in Daktronics, Inc. (DAKT)

Capital Investment Counsel Inc lowered its stake in Daktronics, Inc. (NASDAQ:DAKT) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,645 shares of the technology company’s stock after selling 5,594 shares during the period. Capital Investment Counsel Inc owned approximately 0.12% of Daktronics worth $546,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its position in shares of Daktronics by 0.5% in the second quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after purchasing an additional 64 shares during the period. Texas Permanent School Fund increased its position in shares of Daktronics by 0.8% in the second quarter. Texas Permanent School Fund now owns 29,279 shares of the technology company’s stock worth $282,000 after purchasing an additional 245 shares during the period. Aperio Group LLC increased its position in shares of Daktronics by 3.6% in the second quarter. Aperio Group LLC now owns 14,850 shares of the technology company’s stock worth $143,000 after purchasing an additional 512 shares during the period. Wells Fargo & Company MN increased its position in shares of Daktronics by 2.2% in the second quarter. Wells Fargo & Company MN now owns 28,495 shares of the technology company’s stock worth $275,000 after purchasing an additional 620 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Daktronics by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 148,989 shares of the technology company’s stock worth $1,435,000 after purchasing an additional 912 shares during the period. Institutional investors own 51.25% of the company’s stock.

Daktronics, Inc. (NASDAQ DAKT) traded down $0.03 during trading on Wednesday, reaching $9.92. The company’s stock had a trading volume of 93,600 shares, compared to its average volume of 140,927. Daktronics, Inc. has a 1 year low of $7.84 and a 1 year high of $11.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.43 and a current ratio of 1.94. The company has a market capitalization of $440.66, a PE ratio of 34.31 and a beta of 1.23.

Daktronics (NASDAQ:DAKT) last released its earnings results on Tuesday, August 22nd. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. Daktronics had a return on equity of 6.53% and a net margin of 2.20%. The firm had revenue of $172.70 million for the quarter, compared to analysts’ expectations of $165.00 million. During the same quarter in the previous year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. research analysts forecast that Daktronics, Inc. will post 0.37 earnings per share for the current year.

A number of brokerages recently commented on DAKT. TheStreet upgraded Daktronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Zacks Investment Research cut Daktronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, BidaskClub upgraded Daktronics from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Daktronics has a consensus rating of “Buy” and a consensus target price of $11.83.

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In other news, insider Carla S. Gatzke sold 2,988 shares of Daktronics stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $29,880.00. Following the sale, the insider now directly owns 436,130 shares of the company’s stock, valued at $4,361,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carla S. Gatzke sold 2,996 shares of Daktronics stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $10.27, for a total value of $30,768.92. Following the sale, the insider now directly owns 435,063 shares in the company, valued at $4,468,097.01. The disclosure for this sale can be found here. Insiders have sold 43,291 shares of company stock worth $553,101 over the last three months. Insiders own 8.20% of the company’s stock.

About Daktronics

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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Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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