Daktronics, Inc. $DAKT Shares Bought by Lazard Asset Management LLC

Lazard Asset Management LLC raised its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 282.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,771 shares of the technology company’s stock after buying an additional 96,596 shares during the period. Lazard Asset Management LLC owned approximately 0.27% of Daktronics worth $2,557,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Duquesne Family Office LLC boosted its holdings in Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after purchasing an additional 8,599 shares during the period. Progeny 3 Inc. raised its position in Daktronics by 3.6% in the 3rd quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock valued at $57,455,000 after purchasing an additional 96,371 shares in the last quarter. Breach Inlet Capital Management LLC boosted its stake in shares of Daktronics by 32.8% in the 4th quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after buying an additional 314,133 shares during the period. Renaissance Technologies LLC grew its position in shares of Daktronics by 13.1% during the first quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock worth $16,087,000 after buying an additional 95,393 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock worth $7,715,000 after buying an additional 408,037 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Daktronics

In related news, EVP Bradley T. Wiemann sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $19.22, for a total transaction of $76,880.00. Following the transaction, the executive vice president owned 125,946 shares in the company, valued at $2,420,682.12. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sheila Mae Anderson sold 3,636 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 48,371 shares in the company, valued at $967,903.71. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.60% of the stock is currently owned by insiders.

Daktronics Stock Performance

NASDAQ DAKT opened at $19.77 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.74. The firm’s fifty day moving average price is $19.94 and its 200 day moving average price is $21.14. The company has a market capitalization of $954.50 million, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68. Daktronics, Inc. has a 12 month low of $15.59 and a 12 month high of $28.27.

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