Renaissance Technologies LLC Increases Holdings in Daktronics, Inc. (DAKT)

Renaissance Technologies LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 19.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 708,000 shares of the technology company’s stock after buying an additional 116,200 shares during the period. Renaissance Technologies LLC owned about 1.59% of Daktronics worth $6,025,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in DAKT. Commonwealth Equity Services LLC purchased a new stake in Daktronics during the 1st quarter valued at $101,000. SG Americas Securities LLC purchased a new stake in shares of Daktronics in the 1st quarter worth $106,000. Barclays PLC increased its stake in shares of Daktronics by 127.2% in the 1st quarter. Barclays PLC now owns 12,882 shares of the technology company’s stock worth $114,000 after purchasing an additional 7,213 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Daktronics in the 1st quarter worth $133,000. Finally, Capital One National Association purchased a new stake in shares of Daktronics in the 2nd quarter worth $338,000. Institutional investors and hedge funds own 59.69% of the company’s stock.

DAKT has been the subject of several analyst reports. BidaskClub upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 28th. ValuEngine upgraded Daktronics from a “sell” rating to a “hold” rating in a research note on Thursday, July 5th. Finally, Singular Research reduced their price objective on Daktronics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Daktronics presently has an average rating of “Hold” and an average price target of $10.00.

NASDAQ:DAKT opened at $7.21 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $349.58 million, a PE ratio of 60.31 and a beta of 1.05. Daktronics, Inc. has a one year low of $7.16 and a one year high of $10.74.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Tuesday, August 21st. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The company had revenue of $154.20 million during the quarter, compared to analysts’ expectations of $168.52 million. Daktronics had a return on equity of 2.96% and a net margin of 0.29%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Monday, September 17th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.88%. The ex-dividend date was Friday, September 14th.

About Daktronics

Daktronics, Inc designs, manufactures, and sells a range of electronic display systems and related products worldwide. It operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company offers video display systems, such as displays to show various levels of video, graphics, and animation; LED ribbon board displays; mobile and modular display systems; freeform LED displays, which include architectural lighting and display products; indoor and outdoor scoreboards for various sports, digit displays, scoring and timing controllers, statistics software, and other related products; and timing systems for sports events primarily aquatics and track competitions, as well as swimming touchpads, race start systems, and relay take-off platforms.

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Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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