Inspire Investing LLC Has $1.30 Million Stake in Daktronics, Inc. $DAKT

Inspire Investing LLC raised its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 206.3% in the second quarter, Holdings Channel reports. The fund owned 86,188 shares of the technology company’s stock after acquiring an additional 58,047 shares during the period. Inspire Investing LLC’s holdings in Daktronics were worth $1,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its stake in Daktronics by 4.0% in the first quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company’s stock valued at $284,000 after acquiring an additional 898 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of Daktronics by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 57,501 shares of the technology company’s stock worth $869,000 after buying an additional 1,146 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Daktronics by 6.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company’s stock worth $295,000 after buying an additional 1,476 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Daktronics by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 76,599 shares of the technology company’s stock worth $1,158,000 after buying an additional 2,360 shares during the period. Finally, XTX Topco Ltd boosted its position in shares of Daktronics by 17.2% during the first quarter. XTX Topco Ltd now owns 17,469 shares of the technology company’s stock worth $213,000 after buying an additional 2,566 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Daktronics

In other news, Director John Patrick Friel sold 13,479 shares of the firm’s 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 sale, the director directly owned 74,094 shares of the company’s stock, valued at $1,747,136.52. This trade represents a 15.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sheila Mae Anderson sold 3,839 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $16.86, for a total value of $64,725.54. Following the completion of the sale, the insider directly owned 39,495 shares of the company’s stock, valued at approximately $665,885.70. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,262 shares of company stock valued at $612,167. Insiders own 5.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research raised Daktronics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Daktronics in a research report on Wednesday. Finally, Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $26.00.

Daktronics Stock Performance

Shares of NASDAQ DAKT opened at $19.16 on Friday. The stock has a 50 day moving average price of $18.98 and a 200 day moving average price of $15.95. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $24.38. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.54 and a current ratio of 2.07. The stock has a market capitalization of $929.83 million, a PE ratio of 31.93, a price-to-earnings-growth ratio of 0.59 and a beta of 1.69.

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

Daktronics Company Profile

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.