Stone Ridge Asset Management LLC Takes $670,000 Position in Daktronics, Inc. (DAKT)

Stone Ridge Asset Management LLC bought a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 73,336 shares of the technology company’s stock, valued at approximately $670,000. Stone Ridge Asset Management LLC owned 0.16% of Daktronics as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Daktronics during the 3rd quarter valued at about $130,000. Teacher Retirement System of Texas purchased a new stake in shares of Daktronics during the 4th quarter valued at about $119,000. Municipal Employees Retirement System of Michigan grew its stake in Daktronics by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 15,050 shares of the technology company’s stock valued at $159,000 after purchasing an additional 5,570 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Daktronics during the 4th quarter valued at approximately $144,000. Finally, BNP Paribas Arbitrage SA grew its stake in Daktronics by 47.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 19,785 shares of the technology company’s stock valued at $209,000 after purchasing an additional 6,368 shares in the last quarter. Institutional investors and hedge funds own 56.10% of the company’s stock.

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A number of equities research analysts have weighed in on the company. BidaskClub upgraded Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine upgraded Daktronics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Sidoti assumed coverage on Daktronics in a research note on Wednesday, January 24th. They set a “neutral” rating and a $10.00 price objective for the company. Zacks Investment Research lowered Daktronics from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Finally, TheStreet lowered Daktronics from a “b-” rating to a “c+” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating, Daktronics presently has a consensus rating of “Hold” and a consensus price target of $10.50.

Shares of DAKT stock opened at $8.70 on Friday. Daktronics, Inc. has a 12 month low of $8.58 and a 12 month high of $10.86. The company has a current ratio of 2.18, a quick ratio of 1.60 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $398.04, a P/E ratio of 37.83 and a beta of 1.16.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.11). The business had revenue of $130.32 million for the quarter, compared to analyst estimates of $123.84 million. Daktronics had a net margin of 1.67% and a return on equity of 7.11%. Daktronics’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.12) EPS.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Monday, March 12th were given a $0.07 dividend. The ex-dividend date of this dividend was Friday, March 9th. This represents a $0.28 annualized dividend and a dividend yield of 3.22%. Daktronics’s payout ratio is 121.74%.

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Daktronics 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.

Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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