Daktronics, Inc. (NASDAQ:DAKT) Insider Sells $64,725.54 in Stock

Key Points

• Insider Sheila Mae Anderson sold 3,839 shares of Daktronics stock for a total of $64,725.54, resulting in an 8.86% decrease in her holdings.
• The company's stock price dropped by 0.5% to $16.92, with a market capitalization of approximately $830.94 million.
• Analysts recently downgraded Daktronics from a "buy" rating to a "hold" rating amid concerns about its financial performance, including a negative net margin of 1.34% for the last quarter.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) insider Sheila Mae Anderson sold 3,839 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $16.86, for a total value of $64,725.54. Following the sale, the insider owned 39,495 shares of the company's stock, valued at approximately $665,885.70. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Daktronics Trading Down 2.4%

NASDAQ DAKT traded down $0.41 during trading hours on Friday, hitting $16.72. 44,225 shares of the company's stock were exchanged, compared to its average volume of 421,929. The stock has a 50-day simple moving average of $15.82 and a 200 day simple moving average of $14.61. Daktronics, Inc. has a 1-year low of $10.24 and a 1-year high of $19.89. The firm has a market cap of $820.87 million, a price-to-earnings ratio of -37.99, a PEG ratio of 0.57 and a beta of 1.65. The company has a current ratio of 2.22, a quick ratio of 1.60 and a debt-to-equity ratio of 0.19.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $172.55 million during the quarter, compared to analysts' expectations of $189.10 million. Daktronics had a positive return on equity of 15.29% and a negative net margin of 1.34%. During the same quarter last year, the firm posted $0.27 earnings per share. On average, equities analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Daktronics from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd.

Institutional Trading of Daktronics

Several hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Daktronics by 204.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,046 shares of the technology company's stock valued at $46,000 after purchasing an additional 2,045 shares during the period. Quaker Wealth Management LLC increased its stake in Daktronics by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company's stock worth $57,000 after acquiring an additional 7,600 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Daktronics by 66.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company's stock worth $59,000 after acquiring an additional 1,561 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in Daktronics in the 2nd quarter worth about $62,000. Finally, Summit Investment Advisors Inc. increased its stake in Daktronics by 29.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock worth $71,000 after acquiring an additional 965 shares during the last quarter. 61.69% of the stock is currently owned by institutional investors.

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.