Stone Ridge Asset Management LLC acquired a new position in Daktronics (NASDAQ:DAKT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 73,336 shares of the technology company’s stock, valued at approximately $670,000. Stone Ridge Asset Management LLC owned 0.16% of Daktronics at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its position in Daktronics by 40.6% in the fourth quarter. Renaissance Technologies LLC now owns 596,948 shares of the technology company’s stock worth $5,450,000 after acquiring an additional 172,300 shares in the last quarter. Systematic Financial Management LP raised its holdings in Daktronics by 68.8% during the 4th quarter. Systematic Financial Management LP now owns 378,450 shares of the technology company’s stock worth $3,455,000 after buying an additional 154,258 shares during the period. Deutsche Bank AG raised its holdings in Daktronics by 104.6% during the 4th quarter. Deutsche Bank AG now owns 288,759 shares of the technology company’s stock worth $2,634,000 after buying an additional 147,620 shares during the period. Guggenheim Capital LLC acquired a new stake in Daktronics during the 4th quarter worth about $784,000. Finally, BlackRock Inc. grew its stake in Daktronics by 1.7% during the 4th quarter. BlackRock Inc. now owns 4,815,679 shares of the technology company’s stock valued at $43,967,000 after acquiring an additional 81,526 shares in the last quarter. 56.10% of the stock is owned by institutional investors.
Several equities research analysts recently commented on DAKT shares. Sidoti started coverage on Daktronics in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $10.00 price target for the company. Zacks Investment Research upgraded Daktronics from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. ValuEngine upgraded Daktronics from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. BidaskClub upgraded Daktronics from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, TheStreet lowered Daktronics from a “b-” rating to a “c+” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, Daktronics presently has a consensus rating of “Hold” and a consensus price target of $10.50.
Shares of DAKT stock traded down $0.02 during trading hours on Friday, hitting $9.04. 65,859 shares of the company’s stock were exchanged, compared to its average volume of 162,121. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.60 and a current ratio of 2.18. The stock has a market capitalization of $402.94, a PE ratio of 39.30 and a beta of 1.14. Daktronics has a 52 week low of $8.54 and a 52 week high of $10.86.
Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Tuesday, February 20th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.11). Daktronics had a net margin of 1.67% and a return on equity of 7.11%. The firm had revenue of $130.32 million during the quarter, compared to the consensus estimate of $123.84 million. During the same quarter in the prior year, the business earned ($0.12) EPS. Daktronics’s revenue was up 12.6% on a year-over-year basis.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Monday, March 12th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, March 9th. Daktronics’s payout ratio is 121.74%.
Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation, as well as controllers; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.
Receive News & Ratings for Daktronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daktronics and related companies with MarketBeat.com's FREE daily email newsletter.