Daktronics, Inc. (DAKT) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. boosted its stake in Daktronics, Inc. (NASDAQ:DAKT) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,019 shares of the technology company’s stock after purchasing an additional 214 shares during the quarter. Principal Financial Group Inc. owned about 0.69% of Daktronics worth $2,937,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Highbridge Capital Management LLC purchased a new stake in Daktronics in the 1st quarter worth $108,000. UBS Asset Management Americas Inc. purchased a new stake in Daktronics in the 1st quarter worth $114,000. Investment Centers of America Inc. lifted its stake in Daktronics by 16.1% in the 1st quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock worth $129,000 after purchasing an additional 1,880 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Daktronics by 44.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,417 shares of the technology company’s stock worth $129,000 after purchasing an additional 4,130 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Daktronics in the 1st quarter worth $135,000. Institutional investors and hedge funds own 51.60% of the company’s stock.
In other news, Director John L. Mulligan sold 37,307 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $13.20, for a total value of $492,452.40. Following the transaction, the director now directly owns 67,182 shares of the company’s stock, valued at $886,802.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carla S. Gatzke sold 2,988 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $10.00, for a total transaction of $29,880.00. Following the completion of the transaction, the insider now directly owns 436,130 shares in the company, valued at $4,361,300. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
Shares of Daktronics, Inc. (NASDAQ:DAKT) opened at 10.655 on Friday. Daktronics, Inc. has a 12-month low of $7.84 and a 12-month high of $11.12. The stock has a 50 day moving average of $9.95 and a 200-day moving average of $9.59. The company has a market capitalization of $471.88 million, a P/E ratio of 36.615 and a beta of 1.28.
Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Tuesday, August 22nd. The technology company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The firm had revenue of $172.70 million for the quarter, compared to the consensus estimate of $165.00 million. Daktronics had a net margin of 2.20% and a return on equity of 6.53%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Daktronics, Inc. will post $0.40 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Monday, September 11th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.63%. The ex-dividend date was Friday, September 8th. Daktronics’s dividend payout ratio is currently 96.56%.
A number of analysts have recently weighed in on DAKT shares. TheStreet upgraded shares of Daktronics from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. BidaskClub upgraded shares of Daktronics from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Daktronics from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, August 24th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.83.
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Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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