Daktronics (NASDAQ:DAKT) Stock Price Down 4.2% - Time to Sell?

Shares of Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) fell 4.2% during mid-day trading on Wednesday . The stock traded as low as $16.20 and last traded at $16.04. 18,222 shares were traded during trading, a decline of 96% from the average session volume of 481,090 shares. The stock had previously closed at $16.74.

Daktronics Stock Performance

The stock has a market cap of $807.37 million, a PE ratio of -37.36, a P/E/G ratio of 0.54 and a beta of 1.60. The firm's 50-day moving average is $14.84 and its 200 day moving average is $14.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The technology company reported $0.18 earnings per share for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $172.55 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.27 EPS. As a group, research analysts anticipate that Daktronics, Inc. will post 0.96 EPS for the current year.

Insider Buying and Selling at Daktronics

In other news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the completion of the sale, the insider directly owned 4,973,599 shares in the company, valued at $74,106,625.10. This represents a 16.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Daktronics

A number of institutional investors have recently added to or reduced their stakes in DAKT. Summit Investment Advisors Inc. increased its position in shares of 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 purchasing an additional 965 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Daktronics in the 1st quarter valued at approximately $81,000. GAMMA Investing LLC boosted its holdings in Daktronics by 5,889.3% in the first quarter. GAMMA Investing LLC now owns 7,247 shares of the technology company's stock worth $88,000 after purchasing an additional 7,126 shares during the period. Quantbot Technologies LP bought a new stake in Daktronics during the first quarter valued at $90,000. Finally, Virtus Advisers LLC bought a new stake in Daktronics during the first quarter valued at $107,000. Institutional investors and hedge funds own 61.69% of the company's stock.

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.