Daktronics, Inc. $DAKT is Alta Fox Capital Management LLC’s 2nd Largest Position

Alta Fox Capital Management LLC trimmed its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 15.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,733,199 shares of the technology company’s stock after selling 697,600 shares during the quarter. Daktronics makes up about 15.9% of Alta Fox Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Alta Fox Capital Management LLC owned about 0.08% of Daktronics worth $73,805,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Daktronics during the third quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its stake 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 purchased a new stake in Daktronics in the 4th quarter worth about $57,000. Northwestern Mutual Wealth Management Co. lifted its stake in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after acquiring an additional 2,045 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new stake in Daktronics in the 4th quarter worth about $69,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Stock Down 2.9%

DAKT opened at $20.30 on Friday. Daktronics, Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $28.27. The business has a 50-day moving average of $19.77 and a 200-day moving average of $20.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. The company has a market capitalization of $980.49 million, a PE ratio of 36.91, a price-to-earnings-growth ratio of 0.56 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DAKT shares. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Weiss Ratings downgraded Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Zacks Research downgraded Daktronics from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Roth Mkm started coverage on Daktronics in a research note on Wednesday. They issued a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

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.