Acadian Asset Management LLC Has $2.06 Million Position in Daktronics, Inc. (NASDAQ:DAKT)

Acadian Asset Management LLC lessened its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 66.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 147,822 shares of the technology company’s stock after selling 286,485 shares during the period. Acadian Asset Management LLC’s holdings in Daktronics were worth $2,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. New York State Teachers Retirement System bought a new stake in Daktronics during the 1st quarter worth about $34,000. CWM LLC grew its stake in shares of Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after purchasing an additional 872 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,400 shares in the last quarter. Clear Street Markets LLC bought a new position in Daktronics in the 4th quarter worth approximately $101,000. Finally, Janney Montgomery Scott LLC acquired a new position in Daktronics during the 1st quarter worth $105,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Bradley T. Wiemann sold 7,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total value of $102,000.00. Following the completion of the sale, the executive vice president now directly owns 132,582 shares of the company’s stock, valued at approximately $1,803,115.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Daktronics news, VP Matthew John Kurtenbach sold 2,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the sale, the vice president now directly owns 208,906 shares in the company, valued at $3,125,233.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley T. Wiemann sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total value of $102,000.00. Following the sale, the executive vice president now directly owns 132,582 shares in the company, valued at approximately $1,803,115.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,811 shares of company stock worth $692,532. Insiders own 8.30% of the company’s stock.

Daktronics Price Performance

Shares of DAKT stock opened at $12.56 on Friday. The firm’s 50 day moving average price is $14.16 and its two-hundred day moving average price is $11.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. Daktronics, Inc. has a 52-week low of $7.20 and a 52-week high of $15.97. The stock has a market cap of $581.48 million, a PE ratio of 20.59, a PEG ratio of 0.45 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.13. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The business had revenue of $215.88 million for the quarter, compared to analyst estimates of $179.28 million. As a group, analysts forecast that Daktronics, Inc. will post 0.89 EPS for the current year.

Analyst Upgrades and Downgrades

DAKT has been the subject of a number of recent research reports. Singular Research upgraded Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com cut Daktronics from a “buy” rating to a “hold” rating in a report on Friday.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.