Versor Investments LP Takes $808,000 Position in Daktronics, Inc. $DAKT

Versor Investments LP acquired a new position in Daktronics, Inc. (NASDAQ:DAKT) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 38,600 shares of the technology company’s stock, valued at approximately $808,000.

Several other large investors have also recently added to or reduced their stakes in the business. State of Wyoming raised its holdings in Daktronics by 76.9% during the third quarter. State of Wyoming now owns 22,647 shares of the technology company’s stock worth $474,000 after purchasing an additional 9,846 shares in the last quarter. Retirement Solution LLC bought a new stake in shares of Daktronics in the 3rd quarter worth $209,000. AlphaQuest LLC lifted its holdings in shares of Daktronics by 82.4% in the third quarter. AlphaQuest LLC now owns 17,189 shares of the technology company’s stock valued at $360,000 after buying an additional 7,764 shares during the period. New York State Common Retirement Fund grew its stake in shares of Daktronics by 23.9% in the 3rd quarter. New York State Common Retirement Fund now owns 12,421 shares of the technology company’s stock worth $260,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Daktronics by 38.8% during the third quarter. Federated Hermes Inc. now owns 102,266 shares of the technology company’s stock valued at $2,139,000 after acquiring an additional 28,612 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Zacks Research upgraded shares of Daktronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Daktronics in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Daktronics Trading Up 1.9%

NASDAQ:DAKT opened at $26.42 on Wednesday. The company has a market capitalization of $1.29 billion, a P/E ratio of 203.25, a P/E/G ratio of 0.76 and a beta of 1.73. The stock’s 50 day moving average price is $20.77 and its 200 day moving average price is $19.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.71 and a current ratio of 2.23. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $26.80.

Daktronics (NASDAQ:DAKT) last posted its earnings results on Wednesday, December 10th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.08. Daktronics had a net margin of 0.96% and a return on equity of 15.42%. The firm had revenue of $229.25 million during the quarter, compared to analysts’ expectations of $213.93 million. During the same period in the previous year, the company earned $0.27 earnings per share. On average, research analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

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.