Daktronics (NASDAQ:DAKT) Trading Up 3.7% on Insider Buying Activity

Daktronics, Inc. (NASDAQ:DAKT) shares traded up 3.7% during mid-day trading on Tuesday after an insider bought additional shares in the company. The stock traded as high as $12.59 and last traded at $12.64. 102,438 shares changed hands during trading, a decline of 78% from the average session volume of 475,258 shares. The stock had previously closed at $12.18.

Specifically, Director Andrew David Siegel purchased 7,200 shares of the business’s stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the acquisition, the director now owns 40,946 shares of the company’s stock, valued at approximately $483,981.72. This represents a 21.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

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

Daktronics Stock Up 5.7 %

The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $14.71 and its 200-day moving average price is $14.93. The company has a market cap of $674.10 million, a P/E ratio of 51.52, a PEG ratio of 0.57 and a beta of 1.12.

Institutional Trading of Daktronics

Hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Daktronics by 133.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,411 shares of the technology company’s stock valued at $1,305,000 after buying an additional 44,307 shares in the last quarter. Union Square Park Capital Management LLC acquired a new stake in shares of Daktronics in the 4th quarter worth about $1,096,000. Sherbrooke Park Advisers LLC bought a new position in Daktronics in the 4th quarter valued at about $330,000. ProShare Advisors LLC acquired a new position in Daktronics during the 4th quarter valued at about $190,000. Finally, Progeny 3 Inc. increased its holdings in Daktronics by 4.7% during the 4th quarter. Progeny 3 Inc. now owns 2,391,008 shares of the technology company’s stock worth $40,312,000 after purchasing an additional 106,400 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

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.