Daktronics, Inc. $DAKT Holdings Lifted by Breach Inlet Capital Management LLC

Breach Inlet Capital Management LLC grew its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 32.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,272,552 shares of the technology company’s stock after purchasing an additional 314,133 shares during the quarter. Daktronics accounts for 11.8% of Breach Inlet Capital Management LLC’s holdings, making the stock its 3rd largest holding. Breach Inlet Capital Management LLC’s holdings in Daktronics were worth $25,158,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Daktronics during the 3rd quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Daktronics by 22,566.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,360 shares of the technology company’s stock valued at $27,000 after buying an additional 1,354 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company’s stock valued at $46,000 after buying an additional 2,045 shares during the last quarter. Clearstead Advisors LLC purchased a new position in shares of Daktronics during the 4th quarter valued at $57,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Daktronics by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company’s stock valued at $59,000 after buying an additional 1,561 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Analyst Ratings Changes

DAKT has been the topic of a number of recent research reports. Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday. Roth Mkm assumed coverage on Daktronics in a research note on Wednesday, June 10th. They set a “buy” rating and a $26.00 price objective on the stock. Weiss Ratings lowered Daktronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Daktronics presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.00.

Daktronics Stock Performance

NASDAQ:DAKT opened at $20.17 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.68 and a current ratio of 2.22. Daktronics, Inc. has a 52-week low of $13.30 and a 52-week high of $28.27. The firm has a market cap of $974.21 million, a price-to-earnings ratio of 36.67, a PEG ratio of 0.52 and a beta of 1.66. The business’s fifty day moving average is $19.82 and its 200 day moving average is $21.00.

About Daktronics

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.