Municipal Employees Retirement System of Michigan Has $817,000 Position in Daktronics, Inc. (DAKT)

Municipal Employees Retirement System of Michigan held its stake in Daktronics, Inc. (NASDAQ:DAKT) during the first quarter, Holdings Channel reports. The fund owned 86,520 shares of the technology company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan owned about 0.20% of Daktronics worth $817,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DAKT. Denver Investment Advisors LLC acquired a new stake in Daktronics during the first quarter valued at $103,000. OLD National Bancorp IN boosted its stake in Daktronics by 15.8% in the first quarter. OLD National Bancorp IN now owns 11,783 shares of the technology company’s stock valued at $111,000 after buying an additional 1,608 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Daktronics during the first quarter valued at $114,000. Karp Capital Management Corp acquired a new stake in Daktronics during the first quarter valued at $135,000. Finally, TFS Capital LLC acquired a new stake in Daktronics during the first quarter valued at $145,000. Hedge funds and other institutional investors own 52.96% of the company’s stock.

Institutional Ownership by Quarter for Daktronics (NASDAQ:DAKT)

Daktronics, Inc. (NASDAQ:DAKT) traded down 0.92% during midday trading on Friday, reaching $9.65. The company’s stock had a trading volume of 201,458 shares. Daktronics, Inc. has a 12 month low of $6.05 and a 12 month high of $11.12. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.78. The company has a market cap of $426.37 million, a PE ratio of 41.96 and a beta of 1.32.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings data on Wednesday, May 31st. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by $0.04. Daktronics had a net margin of 1.76% and a return on equity of 5.14%. The firm had revenue of $143.70 million during the quarter, compared to analysts’ expectations of $141.50 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. Daktronics’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Daktronics, Inc. will post $0.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Tuesday, June 13th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, June 9th. Daktronics’s payout ratio is 121.74%.

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Several equities research analysts have weighed in on DAKT shares. Needham & Company LLC cut their target price on Daktronics from $11.00 to $10.50 and set a “buy” rating for the company in a research note on Tuesday, February 21st. TheStreet cut Daktronics from a “b” rating to a “c+” rating in a research note on Tuesday, February 21st. Finally, Zacks Investment Research upgraded Daktronics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th.

In other Daktronics news, Director John L. Mulligan sold 16,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $9.83, for a total value of $157,280.00. Following the transaction, the director now owns 72,953 shares in the company, valued at $717,127.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy D. Frame sold 3,525 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $9.84, for a total transaction of $34,686.00. Following the completion of the transaction, the director now owns 58,881 shares in the company, valued at approximately $579,389.04. The disclosure for this sale can be found here. Insiders sold 30,354 shares of company stock worth $299,173 in the last 90 days. Corporate insiders own 8.40% of the company’s stock.

About Daktronics

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:DAKT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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