Daktronics (NASDAQ:DAKT) Trading 5.1% Higher - What's Next?

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

Daktronics Trading Up 5.7%

The stock has a market cap of $780.55 million, a PE ratio of -36.16, a price-to-earnings-growth ratio of 0.47 and a beta of 1.62. The company's 50-day moving average price is $14.09 and its 200 day moving average price is $14.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 2.22.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its earnings results on Wednesday, June 25th. The technology company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The company had revenue of $172.55 million for the quarter, compared to the consensus estimate 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 business earned $0.27 earnings per share. On average, sell-side analysts forecast that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Insider Activity at Daktronics

In related news, Director Andrew David Siegel purchased 2,500 shares of the company's stock in a transaction on Friday, April 4th. The stock was acquired 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 in the company, valued at approximately $499,629. The trade was a 6.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 4,973,599 shares in the company, valued at approximately $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. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Daktronics

Several hedge funds have recently bought and sold shares of DAKT. SummerHaven Investment Management LLC increased its stake in Daktronics by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock worth $686,000 after purchasing an additional 876 shares during the period. Principal Financial Group Inc. lifted its holdings in Daktronics by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock worth $284,000 after buying an additional 898 shares in the last quarter. Summit Investment Advisors Inc. boosted its position in Daktronics by 29.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock valued at $71,000 after buying an additional 965 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Daktronics by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,210 shares of the technology company's stock valued at $295,000 after buying an additional 1,476 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Daktronics by 3.3% in the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock worth $994,000 after acquiring an additional 1,889 shares in the last quarter. 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.

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