Anchor Capital Advisors LLC Raises Position in Daktronics, Inc. (NASDAQ:DAKT)

Anchor Capital Advisors LLC lifted its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 161.4% during the fourth quarter, Holdings Channel reports. The fund owned 136,557 shares of the technology company’s stock after acquiring an additional 84,324 shares during the period. Anchor Capital Advisors LLC’s holdings in Daktronics were worth $1,158,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DAKT. Adirondack Retirement Specialists Inc. increased its holdings in Daktronics by 56.4% during the 3rd quarter. Adirondack Retirement Specialists Inc. now owns 581,736 shares of the technology company’s stock worth $5,189,000 after purchasing an additional 209,833 shares during the period. Acadian Asset Management LLC raised its holdings in Daktronics by 15.6% in the third quarter. Acadian Asset Management LLC now owns 1,510,763 shares of the technology company’s stock valued at $13,471,000 after acquiring an additional 203,818 shares in the last quarter. Invesco Ltd. grew its holdings in Daktronics by 21.0% during the 3rd quarter. Invesco Ltd. now owns 761,239 shares of the technology company’s stock worth $6,790,000 after acquiring an additional 132,223 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Daktronics by 584.8% in the 3rd quarter. New York State Common Retirement Fund now owns 104,771 shares of the technology company’s stock valued at $935,000 after purchasing an additional 89,471 shares during the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Daktronics during the 3rd quarter worth $770,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Daktronics Stock Performance

NASDAQ DAKT traded down $0.07 during trading hours on Tuesday, hitting $9.50. The company had a trading volume of 43,109 shares, compared to its average volume of 520,212. The business has a 50 day moving average of $9.22 and a 200-day moving average of $9.04. The company has a market cap of $438.81 million, a PE ratio of 9.29, a price-to-earnings-growth ratio of 0.28 and a beta of 1.08. Daktronics, Inc. has a 1-year low of $4.70 and a 1-year high of $12.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.38 and a current ratio of 2.21.

Daktronics (NASDAQ:DAKT) last announced its earnings results on Wednesday, February 28th. The technology company reported ($0.03) earnings per share (EPS) for the quarter. The firm had revenue of $170.30 million during the quarter. Daktronics had a net margin of 6.59% and a return on equity of 30.57%. As a group, equities research analysts expect that Daktronics, Inc. will post 1.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DAKT. StockNews.com cut Daktronics from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. TheStreet cut Daktronics from a “b-” rating to a “c+” rating in a research note on Friday, January 5th.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.