First Bank & Trust bought a new stake in Daktronics Inc. (NASDAQ:DAKT) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 1,182,723 shares of the company’s stock, valued at approximately $12,655,000. Daktronics makes up about 11.6% of First Bank & Trust’s holdings, making the stock its largest position.
Several other institutional investors have also recently bought and sold shares of DAKT. BlackRock Fund Advisors boosted its position in Daktronics by 11.0% in the third quarter. BlackRock Fund Advisors now owns 2,834,716 shares of the company’s stock valued at $27,043,000 after buying an additional 281,478 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Daktronics by 1,413.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 242,362 shares of the company’s stock valued at $2,312,000 after buying an additional 226,348 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Daktronics by 13.5% in the second quarter. Vanguard Group Inc. now owns 1,811,050 shares of the company’s stock valued at $11,320,000 after buying an additional 215,162 shares during the last quarter. Morgan Stanley raised its stake in shares of Daktronics by 260.8% in the third quarter. Morgan Stanley now owns 252,039 shares of the company’s stock valued at $2,405,000 after buying an additional 182,189 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Daktronics during the third quarter valued at about $1,482,000. 46.50% of the stock is currently owned by hedge funds and other institutional investors.
Daktronics Inc. (NASDAQ:DAKT) traded down 0.39% on Thursday, reaching $10.30. 141,762 shares of the company were exchanged. The firm has a market capitalization of $453.50 million, a P/E ratio of 47.03 and a beta of 1.47. Daktronics Inc. has a 12-month low of $5.92 and a 12-month high of $11.12. The firm has a 50-day moving average of $10.52 and a 200 day moving average of $8.91.
Daktronics (NASDAQ:DAKT) last issued its earnings results on Tuesday, November 22nd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $170 million for the quarter, compared to the consensus estimate of $161.50 million. Daktronics had a net margin of 1.64% and a return on equity of 4.76%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts predict that Daktronics Inc. will post $0.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 23rd. Stockholders of record on Monday, December 12th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.28 annualized dividend and a dividend yield of 2.72%. Daktronics’s dividend payout ratio is presently 127.28%.
DAKT has been the subject of several research analyst reports. Singular Research initiated coverage on shares of Daktronics in a research note on Monday, December 19th. They set a “buy” rating and a $14.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $11.00 price target (up previously from $9.50) on shares of Daktronics in a research note on Saturday, November 26th. TheStreet upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, November 21st. Finally, Zacks Investment Research upgraded shares of Daktronics from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a research note on Friday, November 4th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Daktronics presently has an average rating of “Buy” and a consensus price target of $12.33.
In other news, Director James B. Morgan sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $10.65, for a total value of $79,875.00. Following the transaction, the director now owns 1,399,265 shares in the company, valued at $14,902,172.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James B. Morgan sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the transaction, the director now owns 1,409,265 shares in the company, valued at approximately $14,797,282.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,800 shares of company stock worth $527,794. Insiders own 8.40% of the company’s stock.
Daktronics Company Profile
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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