Bank of New York Mellon Corp Cuts Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Bank of New York Mellon Corp lessened its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 237,285 shares of the technology company's stock after selling 20,857 shares during the period. Bank of New York Mellon Corp owned 0.50% of Daktronics worth $4,001,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Progeny 3 Inc. lifted its holdings in Daktronics by 27.3% in the third quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company's stock valued at $29,494,000 after buying an additional 489,700 shares during the period. Foundry Partners LLC acquired a new position in Daktronics in the third quarter valued at $4,101,000. Charles Schwab Investment Management Inc. lifted its holdings in Daktronics by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company's stock valued at $5,834,000 after buying an additional 195,830 shares during the period. FMR LLC lifted its holdings in Daktronics by 5,451.9% in the third quarter. FMR LLC now owns 48,690 shares of the technology company's stock valued at $629,000 after buying an additional 47,813 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Daktronics by 31.6% in the third quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company's stock valued at $2,476,000 after buying an additional 46,104 shares during the period. Institutional investors and hedge funds own 61.69% of the company's stock.

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Daktronics Stock Down 0.9 %

DAKT traded down $0.12 during midday trading on Friday, hitting $12.55. The company had a trading volume of 1,041,246 shares, compared to its average volume of 466,333. Daktronics, Inc. has a 52 week low of $8.81 and a 52 week high of $19.89. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $626.16 million, a price-to-earnings ratio of 50.20, a PEG ratio of 0.57 and a beta of 1.12. The stock's 50 day moving average price is $15.27 and its 200 day moving average price is $14.87.

Analyst Upgrades and Downgrades

Separately, Craig Hallum started coverage on shares of Daktronics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $26.00 target price on the stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and sells electronic scoreboards, programmable display systems and large screen video displays 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.