Daktronics (NASDAQ:DAKT) Shares Down 5.6% - Time to Sell?

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) shares traded down 5.6% on Thursday . The company traded as low as $15.05 and last traded at $14.93. 575,778 shares were traded during mid-day trading, an increase of 20% from the average session volume of 480,072 shares. The stock had previously closed at $15.81.

Daktronics Trading Up 2.0%

The business has a fifty day moving average of $13.36 and a two-hundred day moving average 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. The firm has a market cap of $750.39 million, a price-to-earnings ratio of 60.16, a PEG ratio of 0.57 and a beta of 1.56.

Insider Buying and Selling

In related news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the 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 directly owns 4,973,599 shares of the company's stock, valued at approximately $74,106,625.10. This represents a 16.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew David Siegel bought 2,500 shares of the stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $11.50 per share, for a total transaction of $28,750.00. Following the purchase, the director now owns 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. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DAKT. Summit Investment Advisors Inc. grew its stake in shares of Daktronics by 29.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock worth $71,000 after acquiring an additional 965 shares during the period. Summit Securities Group LLC purchased a new position in Daktronics during the first quarter valued at $81,000. GAMMA Investing LLC raised its stake in shares of 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 last quarter. Quantbot Technologies LP bought a new stake in Daktronics during the first quarter valued at approximately $90,000. Finally, Virtus Advisers LLC bought a new position in shares of Daktronics in the first quarter worth about $107,000. 61.69% of the stock is owned by institutional investors and hedge funds.

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.