Daktronics, Inc. $DAKT Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 50.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,231 shares of the technology company’s stock after selling 41,222 shares during the period. Teacher Retirement System of Texas owned 0.08% of Daktronics worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Inspire Investing LLC boosted its stake in shares of Daktronics by 206.3% in the second quarter. Inspire Investing LLC now owns 86,188 shares of the technology company’s stock worth $1,303,000 after acquiring an additional 58,047 shares during the last quarter. Victory Capital Management Inc. raised its stake in Daktronics by 29.8% in the 1st quarter. Victory Capital Management Inc. now owns 181,870 shares of the technology company’s stock valued at $2,215,000 after purchasing an additional 41,731 shares during the last quarter. Breach Inlet Capital Management LLC lifted its holdings in Daktronics by 82.6% in the 1st quarter. Breach Inlet Capital Management LLC now owns 1,656,758 shares of the technology company’s stock valued at $20,179,000 after purchasing an additional 749,444 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Daktronics by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 76,599 shares of the technology company’s stock valued at $1,158,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Daktronics by 466.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,344,442 shares of the technology company’s stock worth $16,375,000 after purchasing an additional 1,107,157 shares during the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Friel sold 13,479 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $23.58, for a total value of $317,834.82. Following the completion of the transaction, the director directly owned 74,094 shares in the company, valued at approximately $1,747,136.52. This represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Carla S. Gatzke sold 9,944 shares of Daktronics stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $23.09, for a total value of $229,606.96. Following the completion of the sale, the vice president owned 721,036 shares in the company, valued at $16,648,721.24. This represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.30% of the company’s stock.

Daktronics Price Performance

Shares of DAKT stock opened at $18.79 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.54. The firm’s 50-day moving average is $20.05 and its two-hundred day moving average is $17.00. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $24.38. The company has a market capitalization of $911.88 million, a PE ratio of 32.37, a price-to-earnings-growth ratio of 0.60 and a beta of 1.68.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.09. The business had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $196.90 million. Daktronics had a net margin of 1.51% and a return on equity of 14.64%. Analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Daktronics in a research report on Wednesday, October 8th. Zacks Research raised shares of Daktronics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Daktronics from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

About Daktronics

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.