76,900 Shares in Daktronics, Inc. $DAKT Purchased by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 76,900 shares of the technology company’s stock, valued at approximately $1,504,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DAKT. Duquesne Family Office LLC raised its stake in shares of Daktronics by 0.3% in the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock worth $46,513,000 after buying an additional 8,599 shares in the last quarter. Progeny 3 Inc. lifted its holdings in shares of Daktronics by 3.6% in the third 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 position in Daktronics by 32.8% during the 4th quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock worth $25,158,000 after acquiring an additional 314,133 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Daktronics during the second quarter worth approximately $17,992,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Daktronics by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock valued at $16,087,000 after buying an additional 95,393 shares during the period. 61.69% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Bradley T. Wiemann sold 4,000 shares of Daktronics stock in a transaction that occurred 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 sale, the executive vice president 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sheila Mae Anderson sold 3,636 shares of Daktronics stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total transaction of $72,756.36. Following the completion of the sale, the insider owned 48,371 shares in the company, valued at $967,903.71. The trade was a 6.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Daktronics Price Performance

Daktronics stock opened at $19.94 on Tuesday. Daktronics, Inc. has a 12-month low of $15.59 and a 12-month high of $28.27. The business’s 50-day simple moving average is $20.15 and its 200 day simple moving average is $21.10. The company has a quick ratio of 1.74, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The stock has a market cap of $962.70 million, a price-to-earnings ratio of 21.91, a P/E/G ratio of 0.67 and a beta of 1.68.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, June 24th. The technology company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.The business had revenue of $208.61 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same period in the previous year, the firm earned ($0.19) earnings per share. As a group, 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.