Reece A. Kurtenbach Sells 8,048 Shares of Daktronics, Inc. (NASDAQ:DAKT) Stock

Daktronics, Inc. (NASDAQ:DAKT) CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Daktronics Stock Performance

Shares of NASDAQ DAKT opened at $17.62 on Friday. The company has a 50-day simple moving average of $14.81 and a 200-day simple moving average of $13.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The company has a market cap of $827.89 million, a PE ratio of 70.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. Daktronics, Inc. has a 12 month low of $7.20 and a 12 month high of $19.89.

Institutional Trading of Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of DAKT. Price T Rowe Associates Inc. MD purchased a new stake in shares of Daktronics in the first quarter valued at $109,000. CWM LLC increased its stake in shares of Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after acquiring an additional 872 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Daktronics by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 283,626 shares of the technology company’s stock worth $3,957,000 after acquiring an additional 7,243 shares during the period. Principal Financial Group Inc. boosted its position in shares of Daktronics by 20.0% in the second quarter. Principal Financial Group Inc. now owns 82,783 shares of the technology company’s stock worth $1,155,000 after acquiring an additional 13,774 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Daktronics by 10.9% in the second quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock valued at $806,000 after purchasing an additional 5,689 shares during the period. 61.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research report on Monday, September 9th.

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.