Hillsdale Investment Management Inc. Acquires 241,969 Shares of Daktronics, Inc. $DAKT

Hillsdale Investment Management Inc. increased its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 161.2% during the first quarter, Holdings Channel.com reports. The firm owned 392,089 shares of the technology company’s stock after acquiring an additional 241,969 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Daktronics were worth $7,665,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DAKT. Invesco Ltd. grew its stake in shares of 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 buying an additional 408,037 shares during the last quarter. Boston Partners bought a new position in Daktronics during the 4th quarter worth approximately $6,248,000. Breach Inlet Capital Management LLC increased its stake in 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 worth $25,158,000 after purchasing an additional 314,133 shares during the period. Thrivent Financial for Lutherans purchased a new position in Daktronics in the 4th quarter worth approximately $5,364,000. Finally, AQR Capital Management LLC boosted its stake in shares of Daktronics by 322.5% during the fourth quarter. AQR Capital Management LLC now owns 314,874 shares of the technology company’s stock valued at $6,225,000 after purchasing an additional 240,349 shares during the period. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Sheila Mae Anderson sold 3,636 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total transaction of $72,756.36. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is owned by corporate insiders.

Daktronics Stock Performance

Shares of DAKT stock opened at $20.21 on Tuesday. The stock has a fifty day moving average of $20.02 and a 200 day moving average of $21.17. Daktronics, Inc. has a 52 week low of $15.59 and a 52 week high of $28.27. The firm has a market capitalization of $975.74 million, a price-to-earnings ratio of 22.21, a PEG ratio of 0.66 and a beta of 1.67. 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 data on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.07. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. The business had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. During the same period in the previous year, the firm earned ($0.19) EPS. As a group, research analysts expect that Daktronics, Inc. will post 1.21 earnings per share for the current year.

Analysts Set New Price Targets

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

About Daktronics

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.