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Is Daktronics (DAKT) A Smart Long-Term Investment?

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Singular Research, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For 2021, the Singular coverage list outperformed the S&P 500 and Russell 2000 by 376 and 1,696 basis points, respectively. Since Singular's 2004 inception, the Singular coverage list has respectively outperformed the S&P 500 and Russell 2000 by an annualized 405 and 427 basis points. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Singular Research, in its Q4 2021 investor letter, mentioned Daktronics, Inc. (NASDAQ:DAKT) and discussed its stance on the firm. Founded in 1968, Daktronics, Inc. (NASDAQ:DAKT) is a Brookings, South Dakota-based electronics company with a $172.3 million market capitalization, and is currently spearheaded by its CEO, Reece A. Kurtenbach. Daktronics, Inc. (NASDAQ:DAKT) delivered a -24.95% return since the beginning of the year, while its 12-month returns are down by -39.94%. The stock closed at $3.79 per share on April 08, 2022.

Here is what Singular Research has to say about Daktronics, Inc. (NASDAQ:DAKT) in its Q4 2021 investor letter:

"In December, global markets recovered from November's omicron scare as Covid worries dissipated given the fact that the new variant has not been as severe or vaccine-resistant as previously anticipated. For the month, we initiated coverage on Daktronics, Inc. (NASDAQ:DAKT). DAKT is the world's leading supplier of electronic scoreboards, large electronic display systems, and digital messaging solutions for use in sports, transportation, and communication."

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Our calculations show that Daktronics, Inc. (NASDAQ:DAKT) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Daktronics, Inc. (NASDAQ:DAKT) was in 18 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 15 funds in the previous quarter. Daktronics, Inc. (NASDAQ:DAKT) delivered a -25.69% return in the past 3 months.

In May 2021, we published an article that includes Daktronics, Inc. (NASDAQ:DAKT) in the 5 Best Sporting Goods Stocks to Buy. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.