Citadel Advisors LLC Raises Position in Daktronics, Inc. (DAKT)

Citadel Advisors LLC increased its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 357.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 142,630 shares of the technology company’s stock after acquiring an additional 111,423 shares during the quarter. Citadel Advisors LLC owned about 0.32% of Daktronics worth $1,373,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in Daktronics during the first quarter valued at $108,000. UBS Asset Management Americas Inc. bought a new stake in Daktronics in the 1st quarter valued at $114,000. Investment Centers of America Inc. increased its holdings in Daktronics by 16.1% in the 1st quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock valued at $129,000 after acquiring an additional 1,880 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Daktronics by 44.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,417 shares of the technology company’s stock valued at $129,000 after acquiring an additional 4,130 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in Daktronics in the 1st quarter valued at $135,000. Hedge funds and other institutional investors own 51.60% of the company’s stock.

In other news, insider Carla S. Gatzke sold 2,988 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $10.00, for a total transaction of $29,880.00. Following the completion of the sale, the insider now owns 436,130 shares of the company’s stock, valued at $4,361,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Mulligan sold 37,307 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $13.20, for a total transaction of $492,452.40. Following the sale, the director now directly owns 67,182 shares of the company’s stock, valued at approximately $886,802.40. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Several analysts have commented on DAKT shares. BidaskClub upgraded shares of Daktronics from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. TheStreet raised shares of Daktronics from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Daktronics from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $11.83.

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Daktronics, Inc. (DAKT) opened at 10.74 on Wednesday. The stock has a market cap of $475.64 million, a PE ratio of 36.91 and a beta of 1.28. Daktronics, Inc. has a 12-month low of $7.84 and a 12-month high of $11.12. The firm’s 50-day moving average price is $9.85 and its 200 day moving average price is $9.56.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Tuesday, August 22nd. The technology company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $172.70 million during the quarter, compared to analyst estimates of $165.00 million. Daktronics had a net margin of 2.20% and a return on equity of 6.53%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. Analysts anticipate that Daktronics, Inc. will post $0.40 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Monday, September 11th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Friday, September 8th. Daktronics’s payout ratio is 96.56%.

Daktronics 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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Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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