Daktronics, Inc. (NASDAQ:DAKT) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,992 shares of the technology company’s stock after acquiring an additional 654 shares during the quarter. Franklin Resources Inc. owned about 0.15% of Daktronics worth $959,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quarry LP increased its position in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after buying an additional 1,108 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of Daktronics in the 3rd quarter worth $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Daktronics in the third quarter valued at $164,000. Finally, Atria Investments Inc purchased a new stake in Daktronics during the third quarter valued at about $171,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total transaction of $40,773.48. Following the sale, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares in the company, valued at $33,200. This represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,692 shares of company stock valued at $396,185. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

DAKT has been the topic of several research analyst reports. Singular Research raised Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Trading Down 2.1 %

Shares of DAKT opened at $16.95 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics, Inc. has a 12 month low of $7.20 and a 12 month high of $19.89. The stock has a market cap of $796.41 million, a PE ratio of 67.80, a P/E/G ratio of 0.72 and a beta of 1.19. The stock’s 50-day moving average is $15.56 and its two-hundred day moving average is $14.18.

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.