30,138 Shares in Daktronics, Inc. $DAKT Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new position in Daktronics, Inc. (NASDAQ:DAKT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,138 shares of the technology company’s stock, valued at approximately $589,000. Legal & General Group Plc owned about 0.06% of Daktronics as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Daktronics in the second quarter worth about $1,504,000. BlackRock Inc. bought a new position in Daktronics during the 2nd quarter worth approximately $68,158,000. Oppenheimer Asset Management Inc. bought a new position in Daktronics during the 2nd quarter worth approximately $1,001,000. Renaissance Technologies LLC grew its position in Daktronics by 13.1% during the 1st quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock worth $16,087,000 after acquiring an additional 95,393 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Daktronics by 161.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 392,089 shares of the technology company’s stock worth $7,665,000 after purchasing an additional 241,969 shares during the period. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Daktronics news, insider Sheila Anderson sold 3,636 shares of the business’s 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 transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley Wiemann sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president owned 125,946 shares of the company’s stock, valued at $2,420,682.12. This trade represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.60% of the stock is currently owned by insiders.

Daktronics Price Performance

Shares of DAKT stock opened at $19.67 on Wednesday. The firm has a market cap of $945.99 million, a P/E ratio of 20.07, a P/E/G ratio of 0.63 and a beta of 1.68. Daktronics, Inc. has a fifty-two week low of $17.09 and a fifty-two week high of $28.27. The business’s 50 day moving average price is $19.92 and its 200-day moving average price is $20.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.17.

Daktronics (NASDAQ:DAKT) last announced its earnings results on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Daktronics had a return on equity of 18.05% and a net margin of 5.66%.The company had revenue of $234.57 million during the quarter, compared to the consensus estimate of $230.27 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. On average, equities research analysts anticipate that Daktronics, Inc. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

DAKT has been the subject of several recent research reports. Wall Street Zen downgraded Daktronics from a “buy” rating to a “hold” rating in a research report on Saturday. Roth Capital raised 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. Weiss Ratings raised shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Zacks Research upgraded shares of Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, Craig Hallum reissued a “buy” rating and set a $33.00 price target on shares of Daktronics in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Daktronics has an average rating of “Moderate Buy” and an average price target of $31.00.

Daktronics Company 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.