Daktronics, Inc. (NASDAQ:DAKT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its stake in Daktronics, Inc. (NASDAQ:DAKT) by 3.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,951 shares of the technology company’s stock after acquiring an additional 1,889 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Daktronics worth $994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Progeny 3 Inc. boosted its position in shares of Daktronics by 27.3% in the 3rd quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company’s stock valued at $29,494,000 after purchasing an additional 489,700 shares during the period. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $5,834,000 after buying an additional 195,830 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Daktronics in the third quarter worth about $4,101,000. Empowered Funds LLC increased its position in shares of Daktronics by 5.1% in the fourth quarter. Empowered Funds LLC now owns 237,609 shares of the technology company’s stock worth $4,006,000 after acquiring an additional 11,539 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Daktronics by 31.6% in the third quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company’s stock worth $2,476,000 after acquiring an additional 46,104 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Stock Performance

Shares of DAKT stock opened at $12.77 on Friday. The stock’s fifty day simple moving average is $16.28 and its 200-day simple moving average is $15.09. The company has a market capitalization of $601.35 million, a price-to-earnings ratio of 51.08, a P/E/G ratio of 0.57 and a beta of 1.12. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 1-year low of $8.62 and a 1-year high of $19.89.

Daktronics (NASDAQ:DAKT) last issued its earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. On average, sell-side analysts predict that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Activity at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics stock in a transaction 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 owns 469,727 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of the business’s 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 transaction, the director now owns 87,573 shares in the company, 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. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Craig Hallum assumed coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price target for the company.

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.