Teacher Retirement System of Texas Invests $1.50 Million in Daktronics, Inc. (NASDAQ:DAKT)

Teacher Retirement System of Texas acquired a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 88,923 shares of the technology company's stock, valued at approximately $1,499,000. Teacher Retirement System of Texas owned 0.19% of Daktronics as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company's stock valued at $5,834,000 after acquiring an additional 195,830 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Daktronics during the third quarter worth about $564,000. FMR LLC boosted its stake in Daktronics by 5,451.9% in the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company's stock worth $629,000 after buying an additional 47,813 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Daktronics during the 3rd quarter worth about $164,000. Finally, PEAK6 Investments LLC boosted its position in shares of Daktronics by 269.9% in the third quarter. PEAK6 Investments LLC now owns 42,073 shares of the technology company's stock worth $543,000 after acquiring an additional 30,699 shares during the last quarter. Hedge funds and other institutional investors own 61.69% of the company's stock.

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Daktronics Trading Up 2.9 %

Daktronics stock traded up $0.37 during midday trading on Wednesday, reaching $13.25. The stock had a trading volume of 621,836 shares, compared to its average volume of 479,574. The stock has a market capitalization of $693.47 million, a PE ratio of 53.00, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The stock's 50-day simple moving average is $14.63 and its 200 day simple moving average is $14.92. Daktronics, Inc. has a twelve month low of $8.81 and a twelve month high of $19.89.

Insider Activity

In other Daktronics news, Director Andrew David Siegel acquired 7,200 shares of the company's stock in a transaction dated Monday, March 31st. The stock was bought at an average price of $11.82 per share, with a total value of $85,104.00. Following the completion of the transaction, the director now directly owns 40,946 shares of the company's stock, valued at approximately $483,981.72. The trade was a 21.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

Daktronics 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.