Daktronics, Inc. $DAKT Stock Holdings Lifted by Breach Inlet Capital Management LLC

Breach Inlet Capital Management LLC lifted its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 32.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,272,552 shares of the technology company’s stock after buying an additional 314,133 shares during the period. Daktronics comprises about 11.8% of Breach Inlet Capital Management LLC’s holdings, making the stock its 3rd largest position. Breach Inlet Capital Management LLC owned approximately 2.61% of Daktronics worth $25,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Duquesne Family Office LLC boosted its position in shares of Daktronics by 0.3% during the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after buying an additional 8,599 shares during the last quarter. Progeny 3 Inc. boosted its position in shares of Daktronics by 3.6% during the third quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock valued at $57,455,000 after buying an additional 96,371 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Daktronics by 2.8% during the third quarter. American Century Companies Inc. now owns 1,664,668 shares of the technology company’s stock valued at $34,825,000 after buying an additional 44,731 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Daktronics by 28.9% during the fourth quarter. Renaissance Technologies LLC now owns 727,461 shares of the technology company’s stock valued at $14,382,000 after buying an additional 163,048 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after buying an additional 408,037 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Stock Down 0.3%

DAKT stock opened at $20.17 on Thursday. The stock’s fifty day simple moving average is $19.82 and its two-hundred day simple moving average is $21.00. The company has a current ratio of 2.22, a quick ratio of 1.68 and a debt-to-equity ratio of 0.19. Daktronics, Inc. has a 1-year low of $13.30 and a 1-year high of $28.27. The stock has a market cap of $974.21 million, a P/E ratio of 36.67, a P/E/G ratio of 0.52 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DAKT. Weiss Ratings cut Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 19th. Roth Mkm assumed coverage on Daktronics in a research report on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price objective on the stock. Wall Street Zen raised Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Daktronics Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.