Goldman Sachs Group Inc. reduced its position in Daktronics, Inc. (NASDAQ:DAKT) by 17.0% during the first quarter, Holdings Channel reports. The firm owned 116,733 shares of the technology company’s stock after selling 23,979 shares during the period. Goldman Sachs Group Inc.’s holdings in Daktronics were worth $1,103,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in DAKT. Investment Centers of America Inc. boosted its stake in shares of Daktronics by 16.1% in the first quarter. Investment Centers of America Inc. now owns 13,582 shares of the technology company’s stock worth $129,000 after buying an additional 1,880 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Daktronics during the first quarter worth about $108,000. Bank of America Corp DE boosted its stake in shares of Daktronics by 77.3% in the first quarter. Bank of America Corp DE now owns 63,082 shares of the technology company’s stock worth $596,000 after buying an additional 27,504 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Daktronics by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 148,077 shares of the technology company’s stock worth $1,400,000 after buying an additional 8,208 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Daktronics by 63.9% in the first quarter. Renaissance Technologies LLC now owns 201,300 shares of the technology company’s stock worth $1,902,000 after buying an additional 78,500 shares during the period. 51.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Daktronics, Inc. (NASDAQ:DAKT) traded up 0.86% during mid-day trading on Friday, hitting $9.40. 198,036 shares of the stock were exchanged. The stock’s 50-day moving average price is $9.63 and its 200-day moving average price is $9.55. The company has a market cap of $415.32 million, a P/E ratio of 40.87 and a beta of 1.30. Daktronics, Inc. has a 52-week low of $6.83 and a 52-week high of $11.12.

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

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A number of brokerages have recently issued reports on DAKT. BidaskClub cut shares of Daktronics from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research raised shares of Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Daktronics presently has a consensus rating of “Hold” and an average target price of $12.17.

In other news, Director John L. Mulligan sold 10,829 shares of the company’s 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 owns 72,953 shares of the company’s stock, valued at $722,234.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Mulligan sold 16,000 shares of the company’s 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 approximately $717,127.99. The disclosure for this sale can be found here. Insiders have sold 67,661 shares of company stock valued at $791,626 over the last 90 days. 8.20% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

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