Daktronics (NASDAQ:DAKT) Director Sells $317,834.82 in Stock

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 the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $23.58, for a total value of $317,834.82. Following the completion of the transaction, the director owned 74,094 shares of the company's stock, valued at approximately $1,747,136.52. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Daktronics Stock Down 2.0%

NASDAQ DAKT traded down $0.49 on Tuesday, reaching $23.55. The company had a trading volume of 780,830 shares, compared to its average volume of 432,656. The firm has a market capitalization of $1.14 billion, a PE ratio of 37.02, a P/E/G ratio of 0.72 and a beta of 1.69. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $24.38. The firm has a 50-day moving average of $17.21 and a 200-day moving average of $14.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.07 and a quick ratio of 1.54.

Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 10th. The technology company reported $0.33 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%. On average, equities research analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Institutional Trading of Daktronics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its position 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 worth $46,000 after purchasing an additional 2,045 shares during the period. Quaker Wealth Management LLC increased its position in Daktronics by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 3,800 shares of the technology company's stock valued at $57,000 after acquiring an additional 7,600 shares during the period. BNP Paribas Financial Markets increased its position in Daktronics by 66.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,897 shares of the technology company's stock valued at $59,000 after acquiring an additional 1,561 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Daktronics in the 2nd quarter valued at approximately $62,000. Finally, Farther Finance Advisors LLC acquired a new stake in Daktronics in the 2nd quarter valued at approximately $79,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen raised Daktronics from a "buy" rating to a "strong-buy" rating in a report on Sunday. Zacks Research raised Daktronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Strong Buy" and a consensus target price of $26.00.

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.

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