Daktronics, Inc. $DAKT Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 282.7% during the 1st quarter, HoldingsChannel reports. The firm owned 130,771 shares of the technology company’s stock after purchasing an additional 96,596 shares during the period. Lazard Asset Management LLC’s holdings in Daktronics were worth $2,557,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Daktronics in the third quarter valued at about $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Daktronics during the first quarter worth about $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Daktronics by 22,566.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock worth $27,000 after buying an additional 1,354 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after acquiring an additional 2,045 shares during the period. Finally, Clearstead Advisors LLC acquired a new position in Daktronics in the 4th quarter valued at about $57,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DAKT shares. Weiss Ratings raised Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Wall Street Zen lowered Daktronics from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 4th. Roth Capital upped their price target on Daktronics from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Insider Buying and Selling at Daktronics

In other Daktronics news, insider Sheila Mae Anderson sold 3,636 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total value of $72,756.36. Following the completion of the transaction, the insider owned 48,371 shares in the company, valued at approximately $967,903.71. This represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 4,000 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the sale, the executive vice president directly owned 125,946 shares of the company’s stock, valued at approximately $2,420,682.12. This trade represents a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.60% of the company’s stock.

Daktronics Price Performance

Shares of DAKT opened at $19.77 on Monday. The company has a current ratio of 2.31, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $19.94 and its two-hundred day moving average is $21.14. Daktronics, Inc. has a twelve month low of $15.59 and a twelve month high of $28.27. The firm has a market capitalization of $954.50 million, a PE ratio of 21.73, a P/E/G ratio of 0.65 and a beta of 1.68.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.20 by $0.07. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.The business had revenue of $208.61 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same period last year, the firm earned ($0.19) EPS. Research analysts anticipate that Daktronics, Inc. will post 1.21 earnings per share for the current year.

About Daktronics

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.