Daktronics (NASDAQ:DAKT) Shares Up 4.4% – What’s Next?

Daktronics, Inc. (NASDAQ:DAKT)’s stock price rose 4.4% during mid-day trading on Tuesday . The company traded as high as $19.10 and last traded at $19.07. Approximately 202,144 shares were traded during trading, a decline of 60% from the average daily volume of 505,150 shares. The stock had previously closed at $18.27.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DAKT. Singular Research raised shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th.

Daktronics Stock Performance

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 company has a fifty day moving average of $14.41 and a two-hundred day moving average of $13.60. The firm has a market capitalization of $904.01 million, a price-to-earnings ratio of 73.08, a PEG ratio of 0.73 and a beta of 1.19.

Insider Transactions at Daktronics

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now directly owns 85,446 shares in the company, valued at $1,101,398.94. This represents a 22.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares in the company, valued at approximately $33,200. The trade was a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Progeny 3 Inc. boosted its position in Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after buying an additional 1,047,156 shares during the period. Duquesne Family Office LLC grew its stake in shares of Daktronics by 20.3% in the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after buying an additional 420,161 shares during the period. Foundry Partners LLC bought a new stake in shares of Daktronics during the third quarter valued at approximately $4,101,000. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock worth $5,834,000 after buying an additional 195,830 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after acquiring an additional 187,486 shares during the last quarter. 61.69% of the stock is currently owned by institutional investors and hedge funds.

About Daktronics

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.