Martingale Asset Management L P Decreases Stake in Daktronics, Inc. (NASDAQ:DAKT)

Martingale Asset Management L P reduced its position in Daktronics, Inc. (NASDAQ:DAKT) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,427 shares of the technology company’s stock after selling 908 shares during the period. Martingale Asset Management L P owned approximately 0.30% of Daktronics worth $1,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares during the last quarter. CWM LLC lifted its position in shares of Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after buying an additional 2,400 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in Daktronics during the first quarter worth $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Daktronics in the 3rd quarter worth about $164,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at $1,101,398.94. The trade was a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the sale, the vice president now directly owns 2,500 shares in the company, valued at approximately $33,200. The trade was a 86.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Daktronics Stock Performance

DAKT stock opened at $15.40 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The stock has a market capitalization of $713.67 million, a price-to-earnings ratio of 192.50, a PEG ratio of 0.57 and a beta of 1.14. Daktronics, Inc. has a 1 year low of $7.20 and a 1 year high of $15.97. The stock’s fifty day moving average is $13.75 and its two-hundred day moving average is $13.30.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. On average, research analysts predict that Daktronics, Inc. will post 0.89 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DAKT. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Singular Research raised Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

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.