Pacer Advisors Inc. Has $2.55 Million Stock Position in Daktronics, Inc. $DAKT

Pacer Advisors Inc. lessened its stake in Daktronics, Inc. (NASDAQ:DAKT) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,874 shares of the technology company’s stock after selling 35,020 shares during the quarter. Pacer Advisors Inc. owned about 0.26% of Daktronics worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Daktronics during the third quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Daktronics by 22,566.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,354 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Daktronics by 204.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock worth $46,000 after purchasing an additional 2,045 shares during the last quarter. Clearstead Advisors LLC bought a new position in Daktronics in the 4th quarter worth approximately $57,000. Finally, BNP Paribas Financial Markets lifted its holdings in Daktronics by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock worth $59,000 after buying an additional 1,561 shares in the last quarter. 61.69% of the stock is owned by institutional investors.

Daktronics Trading Down 3.7%

Shares of NASDAQ DAKT opened at $20.11 on Wednesday. Daktronics, Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $28.27. The firm has a market capitalization of $971.27 million, a P/E ratio of 36.56, a P/E/G ratio of 0.54 and a beta of 1.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.68. The company’s 50 day simple moving average is $19.88 and its 200 day simple moving average is $21.06.

Wall Street Analyst Weigh In

A number of brokerages have commented on DAKT. Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Zacks Research upgraded Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Finally, Roth Mkm initiated coverage on Daktronics in a research report on Wednesday, June 10th. They issued a “buy” rating and a $26.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.