Meros Investment Management LP Has $6.78 Million Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

Meros Investment Management LP lifted its stake in Daktronics, Inc. (NASDAQ:DAKT) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,811 shares of the technology company’s stock after acquiring an additional 7,885 shares during the period. Daktronics makes up 3.2% of Meros Investment Management LP’s portfolio, making the stock its 12th largest holding. Meros Investment Management LP’s holdings in Daktronics were worth $6,777,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Precision Wealth Strategies LLC acquired a new stake in Daktronics during the fourth quarter worth $184,000. Dimensional Fund Advisors LP boosted its stake in Daktronics by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock worth $20,788,000 after buying an additional 305,597 shares in the last quarter. Gabelli Funds LLC boosted its stake in Daktronics by 7.2% during the fourth quarter. Gabelli Funds LLC now owns 69,700 shares of the technology company’s stock worth $591,000 after buying an additional 4,700 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new stake in Daktronics during the fourth quarter worth $4,240,000. Finally, Breach Inlet Capital Management LLC acquired a new stake in Daktronics during the fourth quarter worth $11,508,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Stock Up 0.5 %

Shares of NASDAQ DAKT opened at $12.62 on Friday. The stock has a market cap of $584.81 million, a PE ratio of 20.69, a PEG ratio of 0.44 and a beta of 1.14. The business has a fifty day moving average of $13.84 and a two-hundred day moving average of $11.97. Daktronics, Inc. has a 52-week low of $7.20 and a 52-week high of $15.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 26th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.13. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. The business had revenue of $215.88 million during the quarter, compared to analysts’ expectations of $179.28 million. As a group, equities research analysts expect that Daktronics, Inc. will post 0.89 earnings per share for the current fiscal year.

Insider Activity at Daktronics

In related news, VP Matthew John Kurtenbach sold 2,000 shares of Daktronics stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $14.96, for a total value of $29,920.00. Following the completion of the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at $3,125,233.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Daktronics news, CEO Reece A. Kurtenbach sold 15,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $13.87, for a total transaction of $208,050.00. Following the transaction, the chief executive officer now directly owns 457,963 shares in the company, valued at approximately $6,351,946.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew John Kurtenbach sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total transaction of $29,920.00. Following the transaction, the vice president now owns 208,906 shares in the company, valued at $3,125,233.76. The disclosure for this sale can be found here. Insiders sold 48,811 shares of company stock valued at $692,532 over the last ninety days. 8.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DAKT shares. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com cut Daktronics from a “buy” rating to a “hold” rating in a report on Friday, September 13th.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products for sporting, commercial, and transportation applications in the United States and internationally. It operates through Commercial, Live Events, High School Park and Recreation, Transportation, and International segments.