JPMorgan Chase & Co. Reduces Holdings in Daktronics, Inc. (NASDAQ:DAKT)

JPMorgan Chase & Co. lessened its stake in Daktronics, Inc. (NASDAQ:DAKT) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 604,937 shares of the technology company’s stock after selling 5,301 shares during the period. JPMorgan Chase & Co. owned 1.29% of Daktronics worth $7,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in DAKT. Rhumbline Advisers grew its position in Daktronics by 10.9% in the 2nd quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock valued at $806,000 after buying an additional 5,689 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Daktronics by 4.2% during the second quarter. Victory Capital Management Inc. now owns 145,695 shares of the technology company’s stock worth $2,032,000 after acquiring an additional 5,838 shares during the period. American Century Companies Inc. raised its holdings in Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after purchasing an additional 187,486 shares in the last quarter. Inspire Investing LLC acquired a new stake in Daktronics in the second quarter valued at about $998,000. Finally, Progeny 3 Inc. boosted its holdings in Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after purchasing an additional 1,047,156 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th.

Daktronics Trading Up 1.3 %

Shares of Daktronics stock opened at $16.47 on Wednesday. Daktronics, Inc. has a 1 year low of $7.20 and a 1 year high of $19.89. 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 business has a 50 day moving average price of $16.32 and a 200 day moving average price of $14.60. The company has a market capitalization of $773.86 million, a P/E ratio of 65.88, a P/E/G ratio of 0.68 and a beta of 1.17.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of the business’s stock in a transaction that occurred on 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. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the sale, the director now owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Daktronics Company 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.