Daktronics (NASDAQ:DAKT) Share Price Crosses Above 200-Day Moving Average - Time to Sell?

Shares of Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.96 and traded as high as $16.14. Daktronics shares last traded at $16.04, with a volume of 492,924 shares traded.

Daktronics Trading Up 2.0%

The stock has a market capitalization of $750.39 million, a P/E ratio of 60.16, a price-to-earnings-growth ratio of 0.57 and a beta of 1.56. The stock has a 50-day moving average price of $13.36 and a two-hundred day moving average price of $14.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35.

Insider Transactions at Daktronics

In other news, Director Andrew David Siegel purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director now directly owns 43,446 shares of the company's stock, valued at $499,629. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of Daktronics stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.90, for a total value of $14,900,000.00. Following the sale, the insider now owns 4,973,599 shares in the company, valued at $74,106,625.10. This represents a 16.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DAKT. Alta Fox Capital Management LLC raised its stake in shares of Daktronics by 94.3% in the first quarter. Alta Fox Capital Management LLC now owns 5,973,599 shares of the technology company's stock worth $72,758,000 after purchasing an additional 2,899,263 shares during the last quarter. Bank of New York Mellon Corp increased its position in Daktronics by 466.6% in the first quarter. Bank of New York Mellon Corp now owns 1,344,442 shares of the technology company's stock worth $16,375,000 after buying an additional 1,107,157 shares in the last quarter. Breach Inlet Capital Management LLC increased its position in Daktronics by 82.6% in the first quarter. Breach Inlet Capital Management LLC now owns 1,656,758 shares of the technology company's stock worth $20,179,000 after buying an additional 749,444 shares in the last quarter. Invesco Ltd. increased its position in Daktronics by 554.6% in the fourth quarter. Invesco Ltd. now owns 724,796 shares of the technology company's stock worth $12,220,000 after buying an additional 614,075 shares in the last quarter. Finally, Duquesne Family Office LLC lifted its holdings in Daktronics by 16.9% in the 1st quarter. Duquesne Family Office LLC now owns 3,067,625 shares of the technology company's stock worth $37,364,000 after purchasing an additional 442,520 shares in the last quarter. Hedge funds and other institutional investors 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.