Sei Investments Co. Buys 30,431 Shares of Daktronics, Inc. $DAKT

Sei Investments Co. grew its stake in Daktronics, Inc. (NASDAQ:DAKT) by 89.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 64,634 shares of the technology company’s stock after buying an additional 30,431 shares during the period. Sei Investments Co.’s holdings in Daktronics were worth $1,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Daktronics during the 3rd quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new stake in Daktronics in the 1st quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Daktronics by 22,566.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,354 shares in the last quarter. Clearstead Advisors LLC bought a new stake in Daktronics during the 4th quarter worth approximately $57,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Daktronics by 204.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,045 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Insiders Place Their Bets

In other Daktronics news, EVP Bradley T. Wiemann sold 4,000 shares of the stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $19.22, for a total transaction of $76,880.00. Following the completion of the transaction, the executive vice president owned 125,946 shares of the company’s stock, valued at $2,420,682.12. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sheila Mae Anderson sold 3,636 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were 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 of the company’s stock, valued at approximately $967,903.71. The trade was a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Daktronics Trading Down 0.4%

Shares of DAKT opened at $21.20 on Wednesday. The firm has a market cap of $1.02 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 0.70 and a beta of 1.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.74. Daktronics, Inc. has a 1 year low of $15.59 and a 1 year high of $28.27. The company has a 50 day simple moving average of $20.07 and a two-hundred day simple moving average of $21.13.

Daktronics (NASDAQ:DAKT) last released its 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 the consensus estimate of $205.27 million. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, equities 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.