Squarepoint Ops LLC Has $1.76 Million Stake in Daktronics, Inc. $DAKT

Squarepoint Ops LLC lifted its stake in Daktronics, Inc. (NASDAQ:DAKT) by 74.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,413 shares of the technology company’s stock after buying an additional 49,684 shares during the period. Squarepoint Ops LLC’s holdings in Daktronics were worth $1,760,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DAKT. Vanguard Group Inc. lifted its position in shares of Daktronics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,475,948 shares of the technology company’s stock valued at $30,157,000 after acquiring an additional 24,984 shares during the period. Nuveen LLC bought a new stake in Daktronics during the first quarter worth about $1,688,000. HighTower Advisors LLC bought a new stake in Daktronics during the first quarter worth about $138,000. American Century Companies Inc. grew its stake in Daktronics by 9.1% during the first quarter. American Century Companies Inc. now owns 1,514,624 shares of the technology company’s stock worth $18,448,000 after buying an additional 126,340 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Daktronics in the 1st quarter valued at about $90,000. Institutional investors own 61.69% of the company’s stock.

Daktronics Price Performance

DAKT stock opened at $19.00 on Friday. The company has a 50 day simple moving average of $19.04 and a 200 day simple moving average of $17.87. The stock has a market cap of $926.21 million, a price-to-earnings ratio of 146.17, a P/E/G ratio of 0.56 and a beta of 1.72. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $24.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71.

Daktronics (NASDAQ:DAKT) last issued its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. The firm had revenue of $229.25 million for the quarter, compared to analyst estimates of $213.93 million. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. During the same quarter last year, the business posted $0.27 earnings per share. Research analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DAKT has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Daktronics in a research report on Monday. Finally, Zacks Research cut Daktronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Daktronics presently has a consensus rating of “Hold” and a consensus target price of $26.00.

About Daktronics

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.