Renaissance Technologies LLC Buys 95,393 Shares of Daktronics, Inc. $DAKT

Renaissance Technologies LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 13.1% during the 1st quarter, HoldingsChannel reports. The firm owned 822,854 shares of the technology company’s stock after purchasing an additional 95,393 shares during the quarter. Renaissance Technologies LLC’s holdings in Daktronics were worth $16,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Daktronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock valued at $295,000 after buying an additional 1,476 shares during the last quarter. Empowered Funds LLC raised its holdings in Daktronics by 2.1% in the 1st quarter. Empowered Funds LLC now owns 242,535 shares of the technology company’s stock worth $2,954,000 after acquiring an additional 4,926 shares during the period. Rhumbline Advisers lifted its position in Daktronics by 31.4% during the 2nd quarter. Rhumbline Advisers now owns 76,152 shares of the technology company’s stock worth $1,151,000 after acquiring an additional 18,202 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after acquiring an additional 2,045 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after acquiring an additional 408,037 shares during the period. Institutional investors own 61.69% of the company’s stock.

Insider Activity at Daktronics

In related news, insider Sheila Mae Anderson sold 3,636 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total value of $72,756.36. Following the completion of the transaction, the insider directly owned 48,371 shares in the company, valued at approximately $967,903.71. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bradley T. Wiemann sold 4,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the transaction, the executive vice president directly owned 125,946 shares of the company’s stock, valued at approximately $2,420,682.12. This trade represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 5.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DAKT shares. Roth Capital raised their price target on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen cut Daktronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 4th. Weiss Ratings upgraded Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded Daktronics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $29.00.

Daktronics Stock Up 1.5%

DAKT stock opened at $19.77 on Friday. Daktronics, Inc. has a twelve month low of $15.59 and a twelve month high of $28.27. The company has a market cap of $954.50 million, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.67. The business’s 50-day simple moving average is $19.94 and its 200 day simple moving average is $21.14. The company has a quick ratio of 1.74, a current ratio of 2.31 and a debt-to-equity ratio of 0.18.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $208.61 million for the quarter, compared to analyst estimates of $205.27 million. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.During the same period in the previous year, the company posted ($0.19) earnings per share. On average, research analysts anticipate that Daktronics, Inc. will post 1.21 earnings per share for the current year.

Daktronics Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.