Squarepoint Ops LLC Sells 38,457 Shares of Daktronics, Inc. $DAKT

Squarepoint Ops LLC lessened its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 49.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 38,536 shares of the technology company’s stock after selling 38,457 shares during the quarter. Squarepoint Ops LLC’s holdings in Daktronics were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LP lifted its holdings in Daktronics by 38.4% during the 2nd quarter. Corient Private Wealth LP now owns 18,237 shares of the technology company’s stock valued at $357,000 after purchasing an additional 5,063 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Daktronics in the second quarter worth $328,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Daktronics by 10.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 83,747 shares of the technology company’s stock worth $1,638,000 after purchasing an additional 8,143 shares during the last quarter. Bank of America Corp DE bought a new stake in Daktronics during the 2nd quarter worth about $1,374,000. Finally, Gallagher Fiduciary Advisors LLC bought a new position in shares of Daktronics in the second quarter worth about $369,000. 61.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Roth Capital upped their price objective on shares of Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Craig Hallum reiterated a “buy” rating and set a $33.00 target price on shares of Daktronics in a report on Thursday, September 3rd. Wall Street Zen lowered Daktronics from a “buy” rating to a “hold” rating in a report on Saturday, September 5th. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Insider Buying and Selling at Daktronics

In other Daktronics news, EVP Bradley Wiemann sold 4,000 shares of the stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $19.22, for a total value of $76,880.00. Following the sale, the executive vice president directly owned 125,946 shares in the company, valued at $2,420,682.12. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sheila Anderson sold 3,636 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $20.01, for a total value of $72,756.36. Following the transaction, the insider owned 48,371 shares in the company, valued at $967,903.71. This trade represents a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.60% of the stock is currently owned by insiders.

Daktronics Stock Performance

NASDAQ DAKT opened at $17.41 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $837.25 million, a price-to-earnings ratio of 17.77, a PEG ratio of 0.56 and a beta of 1.68. The stock has a fifty day simple moving average of $19.59 and a 200 day simple moving average of $19.98. Daktronics, Inc. has a twelve month low of $17.09 and a twelve month high of $28.27.

Daktronics (NASDAQ:DAKT) last issued its earnings results on Wednesday, September 2nd. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $234.57 million during the quarter, compared to the consensus estimate of $230.27 million. Daktronics had a return on equity of 18.05% and a net margin of 5.66%.During the same period last year, the business posted $0.33 EPS. Sell-side analysts expect that Daktronics, Inc. will post 1.24 EPS for the current year.

Daktronics Profile

Daktronics, Inc designs, manufactures and sells electronic display and control systems. Its products include large-format LED video displays, digital scoreboards, message centers, digital signage, display controllers and related audio systems.

The company serves sports and entertainment venues, schools and universities, commercial and retail organizations, transportation facilities, government institutions and other customers that use visual communications. Daktronics also provides installation, maintenance, content management and other support services for its display systems.

Founded in 1968 and headquartered in Brookings, South Dakota, Daktronics serves customers in the United States and international markets.