Man Group plc Acquires New Position in Daktronics, Inc. $DAKT

Man Group plc acquired a new stake in Daktronics, Inc. (NASDAQ:DAKT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 119,894 shares of the technology company’s stock, valued at approximately $2,345,000. Man Group plc owned about 0.25% of Daktronics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of DAKT. Quarry LP acquired a new position in shares of Daktronics in the 3rd quarter valued at $25,000. Cornerstone Planning Group LLC acquired a new stake in shares of Daktronics during the first quarter worth $26,000. Caitong International Asset Management Co. Ltd grew its stake 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 purchasing an additional 1,354 shares during the period. USA Financial Formulas increased its holdings in Daktronics by 3,057.8% in the first quarter. USA Financial Formulas now owns 1,421 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,376 shares during the last quarter. Finally, State of Wyoming acquired a new position in Daktronics in the second quarter valued at about $33,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analysts Set New Price Targets

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

Daktronics Trading Down 0.9%

DAKT opened at $19.36 on Wednesday. The stock has a market capitalization of $934.70 million, a P/E ratio of 21.27, a P/E/G ratio of 0.64 and a beta of 1.68. The company has a current ratio of 2.31, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. Daktronics, Inc. has a 12 month low of $16.89 and a 12 month high of $28.27. The firm’s fifty day simple moving average is $19.94 and its 200 day simple moving average is $20.71.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (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 firm had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. During the same quarter last year, the business posted ($0.19) EPS. As a group, research analysts anticipate that Daktronics, Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity at Daktronics

In other news, EVP Bradley T. Wiemann sold 4,000 shares of Daktronics stock in a transaction that occurred 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 sale, the executive vice president directly owned 125,946 shares in the company, valued at $2,420,682.12. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sheila Mae Anderson sold 3,636 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total transaction of $72,756.36. Following the completion of the sale, the insider directly owned 48,371 shares in the company, valued at approximately $967,903.71. This represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.60% of the stock is owned by company insiders.

Daktronics Profile

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.