Daktronics, Inc. $DAKT Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 39.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,894 shares of the technology company’s stock after selling 105,442 shares during the period. Pacer Advisors Inc.’s holdings in Daktronics were worth $3,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DAKT. Harbor Capital Advisors Inc. raised its position in shares of Daktronics by 12.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 9,902 shares of the technology company’s stock worth $207,000 after purchasing an additional 1,097 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Daktronics in the third quarter worth $261,000. Osaic Holdings Inc. lifted its position in shares of Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after acquiring an additional 728 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Daktronics by 74.5% during the second quarter. Squarepoint Ops LLC now owns 116,413 shares of the technology company’s stock valued at $1,760,000 after acquiring an additional 49,684 shares during the last quarter. Finally, Duquesne Family Office LLC increased its position in Daktronics by 0.3% during the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock worth $46,513,000 after purchasing an additional 8,599 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on DAKT. Zacks Research lowered shares of Daktronics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Daktronics in a research note on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.00.

Daktronics Trading Up 2.9%

Shares of DAKT stock opened at $19.61 on Wednesday. The firm’s 50-day simple moving average is $18.90 and its 200-day simple moving average is $18.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.23 and a quick ratio of 1.71. Daktronics, Inc. has a 1-year low of $10.24 and a 1-year high of $24.38. The firm has a market cap of $955.99 million, a P/E ratio of 150.86, a PEG ratio of 0.56 and a beta of 1.72.

Daktronics (NASDAQ:DAKT) last released its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The firm had revenue of $229.25 million during the quarter, compared to the consensus estimate of $213.93 million. During the same period in the previous year, the firm earned $0.27 earnings per share. As a group, equities analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current year.

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.