Daktronics (NASDAQ:DAKT) Trading 5.1% Higher - Here's Why

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) shares traded up 5.1% during mid-day trading on Friday . The company traded as high as $15.76 and last traded at $15.80. 64,000 shares were traded during mid-day trading, a decline of 87% from the average session volume of 490,559 shares. The stock had previously closed at $15.03.

Daktronics Stock Performance

The company has a market capitalization of $742.54 million, a price-to-earnings ratio of -34.36, a P/E/G ratio of 0.51 and a beta of 1.62. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.60 and a current ratio of 2.22. The stock's 50-day moving average price is $14.15 and its 200-day moving average price is $14.67.

Daktronics (NASDAQ:DAKT - Get Free Report) last released its earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Daktronics had a negative net margin of 1.34% and a positive return on equity of 15.29%. The firm had revenue of $172.55 million during the quarter, compared to analysts' expectations of $189.10 million. During the same period in the previous year, the company earned $0.27 EPS. As a group, equities research analysts expect that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Insider Transactions at Daktronics

In other Daktronics news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the completion of the transaction, the insider directly owned 4,973,599 shares of the company's stock, valued at $74,106,625.10. The trade was a 16.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andrew David Siegel purchased 2,500 shares of the company's stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $11.50 per share, for a total transaction of $28,750.00. Following the purchase, the director directly owned 43,446 shares of the company's stock, valued at $499,629. This trade represents a 6.11% increase in their position. The disclosure for this purchase can be found here. Company insiders own 5.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Alta Fox Capital Management LLC boosted its stake in Daktronics by 94.3% during the 1st quarter. Alta Fox Capital Management LLC now owns 5,973,599 shares of the technology company's stock valued at $72,758,000 after purchasing an additional 2,899,263 shares in the last quarter. Bank of New York Mellon Corp raised 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 acquiring an additional 1,107,157 shares in the last quarter. Breach Inlet Capital Management LLC raised 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 acquiring an additional 749,444 shares in the last quarter. Invesco Ltd. lifted its holdings in Daktronics by 554.6% in the 4th quarter. Invesco Ltd. now owns 724,796 shares of the technology company's stock valued at $12,220,000 after acquiring an additional 614,075 shares during the last quarter. Finally, Duquesne Family Office LLC boosted its position in shares of Daktronics by 16.9% during the 1st quarter. Duquesne Family Office LLC now owns 3,067,625 shares of the technology company's stock valued at $37,364,000 after purchasing an additional 442,520 shares in the last quarter. 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.