Denver Investment Advisors LLC purchased a new position in Daktronics, Inc. (NASDAQ:DAKT) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,870 shares of the technology company’s stock, valued at approximately $103,000.
A number of other hedge funds have also made changes to their positions in DAKT. First Personal Financial Services boosted its stake in Daktronics by 46.2% in the first quarter. First Personal Financial Services now owns 180,899 shares of the technology company’s stock worth $1,709,000 after buying an additional 57,135 shares during the period. Karp Capital Management Corp purchased a new stake in Daktronics during the first quarter worth approximately $135,000. Acrospire Investment Management LLC boosted its stake in Daktronics by 56.1% in the first quarter. Acrospire Investment Management LLC now owns 21,066 shares of the technology company’s stock worth $199,000 after buying an additional 7,569 shares during the period. Gamco Investors INC. ET AL boosted its stake in Daktronics by 4.0% in the first quarter. Gamco Investors INC. ET AL now owns 130,000 shares of the technology company’s stock worth $1,229,000 after buying an additional 5,000 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in Daktronics during the first quarter worth approximately $114,000. 50.03% of the stock is owned by institutional investors.
Daktronics (NASDAQ:DAKT) last issued its earnings results on Tuesday, February 21st. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.10. Daktronics had a return on equity of 4.76% and a net margin of 1.64%. The business had revenue of $115.70 million during the quarter, compared to the consensus estimate of $126.07 million. During the same period in the prior year, the business earned ($0.04) EPS. The business’s revenue was down 6.5% on a year-over-year basis.
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A number of analysts have recently commented on the company. Zacks Investment Research upgraded Daktronics from a “sell” rating to a “hold” rating in a research report on Tuesday. Needham & Company LLC cut their target price on Daktronics from $11.00 to $10.50 and set a “buy” rating on the stock in a research report on Tuesday, February 21st. Finally, TheStreet cut Daktronics from a “b” rating to a “c+” rating in a research report on Tuesday, February 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Daktronics presently has a consensus rating of “Hold” and an average price target of $12.17.
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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