Daktronics, Inc. (NASDAQ:DAKT) Holdings Cut by Spark Investment Management LLC

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%.

COPYRIGHT VIOLATION NOTICE: This report was first published by Sundance Herald and is the property of of Sundance Herald. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://sundanceherald.com/2019/06/14/spark-investment-management-llc-lowers-holdings-in-daktronics-inc-dakt.html.

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.

See Also: Risk Tolerance

Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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.



Leave a Reply