Daktronics (NASDAQ:DAKT) Director John Patrick Friel Sells 13,479 Shares

Key Points

• John Patrick Friel, a director at Daktronics, sold 13,479 shares of the company's stock for approximately $317,834.82, reducing his ownership by 15.39%.
• Following the transaction, Daktronics stock is currently down 2.0% and trades at $23.55, with a market capitalization of $1.14 billion.
• Analysts have upgraded Daktronics to a "strong-buy" rating, with a consensus target price of $26.00 according to recent reports.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) Director John Patrick Friel sold 13,479 shares of Daktronics stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $23.58, for a total value of $317,834.82. Following the sale, the director owned 74,094 shares of the company's stock, valued at approximately $1,747,136.52. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Daktronics Price Performance

Shares of DAKT traded up $0.15 during trading hours on Thursday, reaching $22.88. 234,306 shares of the company's stock traded hands, compared to its average volume of 433,557. The stock has a market cap of $1.11 billion, a PE ratio of 39.25, a price-to-earnings-growth ratio of 0.72 and a beta of 1.69. The company has a current ratio of 2.07, a quick ratio of 1.54 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $17.47 and its 200-day simple moving average is $14.99. Daktronics, Inc. has a 12 month low of $10.24 and a 12 month high of $24.38.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.09. The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $196.90 million. Daktronics had a return on equity of 14.64% and a net margin of 1.51%. Equities analysts expect that Daktronics, Inc. will post 0.96 EPS for the current year.

Institutional Trading of Daktronics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its position in Daktronics by 3.2% in the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company's stock valued at $357,000 after purchasing an additional 728 shares during the last quarter. Squarepoint Ops LLC lifted its position in Daktronics by 74.5% in the second quarter. Squarepoint Ops LLC now owns 116,413 shares of the technology company's stock valued at $1,760,000 after purchasing an additional 49,684 shares during the last quarter. Duquesne Family Office LLC lifted its position in Daktronics by 0.3% in the second quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company's stock valued at $46,513,000 after purchasing an additional 8,599 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its position in Daktronics by 21.6% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 18,942 shares of the technology company's stock valued at $286,000 after purchasing an additional 3,370 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Daktronics in the second quarter valued at approximately $925,000. Institutional investors own 61.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DAKT. Zacks Research upgraded Daktronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 11th. Wall Street Zen upgraded Daktronics from a "buy" rating to a "strong-buy" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, Daktronics has a consensus rating of "Strong Buy" and an average price target of $26.00.

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.