Man Group plc Purchases Shares of 119,894 Daktronics, Inc. $DAKT

Man Group plc acquired a new position in shares of Daktronics, Inc. (NASDAQ:DAKT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 119,894 shares of the technology company’s stock, valued at approximately $2,345,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Daktronics by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,856 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 519 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Daktronics by 7.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock valued at $210,000 after purchasing an additional 707 shares during the period. Royal Bank of Canada raised its holdings in shares of Daktronics by 12.7% in the 4th quarter. Royal Bank of Canada now owns 6,430 shares of the technology company’s stock valued at $127,000 after purchasing an additional 724 shares during the period. Osaic Holdings Inc. lifted its stake in Daktronics by 3.2% in the 2nd quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock valued at $357,000 after purchasing an additional 728 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Daktronics by 13.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the technology company’s stock valued at $151,000 after purchasing an additional 898 shares during the last quarter. 61.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Sheila Mae Anderson sold 3,636 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total transaction of $72,756.36. Following the sale, the insider directly owned 48,371 shares of the company’s stock, valued at approximately $967,903.71. This represents a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley T. Wiemann sold 4,000 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the transaction, the executive vice president owned 125,946 shares in the company, valued at $2,420,682.12. The trade was a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.60% of the company’s stock.

Daktronics Stock Down 0.9%

NASDAQ DAKT opened at $19.36 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. The company has a market cap of $934.70 million, a price-to-earnings ratio of 21.27, a PEG ratio of 0.64 and a beta of 1.68. The company has a 50 day moving average of $19.94 and a 200-day moving average of $20.71. Daktronics, Inc. has a 1-year low of $16.89 and a 1-year high of $28.27.

Daktronics (NASDAQ:DAKT) last issued its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.The business had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. During the same quarter in the prior year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that Daktronics, Inc. will post 1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DAKT has been the topic of a number of recent analyst reports. Weiss Ratings raised Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. Roth Capital raised their price objective on Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen downgraded Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Zacks Research raised Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.

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.