Systematic Financial Management LP Lowers Position in Daktronics, Inc. (DAKT)

Systematic Financial Management LP cut its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,950 shares of the technology company’s stock after selling 3,650 shares during the period. Systematic Financial Management LP’s holdings in Daktronics were worth $1,124,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Denver Investment Advisors LLC purchased a new stake in shares of Daktronics during the first quarter worth approximately $103,000. OLD National Bancorp IN raised its stake in Daktronics by 15.8% in the first quarter. OLD National Bancorp IN now owns 11,783 shares of the technology company’s stock valued at $111,000 after buying an additional 1,608 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Daktronics during the first quarter valued at about $114,000. Karp Capital Management Corp bought a new stake in Daktronics during the first quarter valued at about $135,000. Finally, TFS Capital LLC bought a new stake in Daktronics during the first quarter valued at about $145,000. Institutional investors own 52.60% of the company’s stock.

Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

Daktronics, Inc. (NASDAQ:DAKT) traded down 0.254% during trading on Tuesday, hitting $9.825. The stock had a trading volume of 17,717 shares. Daktronics, Inc. has a 1-year low of $6.05 and a 1-year high of $11.12. The firm has a 50 day moving average price of $9.51 and a 200-day moving average price of $9.76. The firm has a market capitalization of $434.10 million, a PE ratio of 42.717 and a beta of 1.32.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by $0.04. Daktronics had a net margin of 1.76% and a return on equity of 5.14%. The business had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $141.50 million. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Daktronics, Inc. will post $0.36 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Tuesday, June 13th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, June 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.84%. Daktronics’s dividend payout ratio (DPR) is currently 121.74%.

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Several research firms recently issued reports on DAKT. TheStreet lowered Daktronics from a “b” rating to a “c+” rating in a report on Tuesday, February 21st. Needham & Company LLC lowered their price target on Daktronics from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Finally, Zacks Investment Research downgraded Daktronics from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th.

In other news, Director John L. Mulligan sold 10,829 shares of Daktronics stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $9.90, for a total transaction of $107,207.10. Following the completion of the sale, the director now directly owns 72,953 shares of the company’s stock, valued at approximately $722,234.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Mulligan sold 16,000 shares of Daktronics stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $9.83, for a total transaction of $157,280.00. Following the sale, the director now directly owns 72,953 shares of the company’s stock, valued at $717,127.99. The disclosure for this sale can be found here. Insiders have sold a total of 30,354 shares of company stock valued at $299,173 over the last 90 days. Company insiders own 8.40% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:DAKT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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