Spark Investment Management LLC lowered its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 47.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,670 shares of the technology company’s stock after selling 72,630 shares during the quarter. Spark Investment Management LLC owned 0.18% of Daktronics worth $608,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of DAKT. Teachers Advisors LLC lifted its holdings in shares of Daktronics by 1.7% in the 3rd quarter. Teachers Advisors LLC now owns 89,207 shares of the technology company’s stock worth $699,000 after buying an additional 1,449 shares during the period. Mondrian Investment Partners LTD lifted its holdings in shares of Daktronics by 0.4% in the 4th quarter. Mondrian Investment Partners LTD now owns 432,327 shares of the technology company’s stock worth $3,199,000 after buying an additional 1,557 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Daktronics by 29.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,264 shares of the technology company’s stock worth $68,000 after purchasing an additional 2,082 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Daktronics by 10.4% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 30,949 shares of the technology company’s stock worth $229,000 after purchasing an additional 2,909 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Daktronics by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 320,504 shares of the technology company’s stock worth $2,372,000 after purchasing an additional 3,680 shares during the last quarter. Institutional investors own 57.91% of the company’s stock.
DAKT has been the subject of a number of analyst reports. BidaskClub cut Daktronics from a “buy” rating to a “hold” rating in a research note on Thursday, March 7th. Singular Research reaffirmed a “buy” rating on shares of Daktronics in a research report on Monday, March 4th. Finally, TheStreet lowered Daktronics from a “b-” rating to a “c” rating in a research report on Thursday, February 21st.
In related news, Chairman Reece A. Kurtenbach sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $6.01, for a total transaction of $60,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.20% of the stock is owned by company insiders.
Shares of DAKT stock traded up $0.07 during mid-day trading on Friday, reaching $6.27. The stock had a trading volume of 163,002 shares, compared to its average volume of 153,219. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.30 and a current ratio of 1.89. The firm has a market capitalization of $275.60 million, a PE ratio of -313.50 and a beta of 1.14. Daktronics, Inc. has a 1-year low of $5.85 and a 1-year high of $9.14.
Daktronics (NASDAQ:DAKT) last announced its quarterly earnings data on Wednesday, May 29th. The technology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.15). The firm had revenue of $127.76 million during the quarter, compared to analyst estimates of $145.16 million. Daktronics had a negative net margin of 0.17% and a negative return on equity of 0.48%. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.09) earnings per share. Sell-side analysts forecast that Daktronics, Inc. will post 0.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 31.90%. This is a positive change from Daktronics’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, June 7th. Daktronics’s dividend payout ratio (DPR) is -1,000.00%.
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Daktronics Company Profile
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; 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.
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