Hussman Strategic Advisors Inc. Takes $256,000 Position in Daktronics, Inc. (NASDAQ:DAKT)

Hussman Strategic Advisors Inc. bought a new position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the technology company's stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DAKT. SummerHaven Investment Management LLC boosted its stake in Daktronics by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 56,355 shares of the technology company's stock valued at $686,000 after purchasing an additional 876 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Daktronics by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 23,311 shares of the technology company's stock valued at $284,000 after buying an additional 898 shares during the period. Summit Investment Advisors Inc. lifted its holdings 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 valued at $71,000 after buying an additional 965 shares during the period. Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Daktronics by 18.1% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 14,793 shares of the technology company's stock valued at $249,000 after buying an additional 2,267 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Daktronics by 11.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,734 shares of the technology company's stock valued at $383,000 after buying an additional 2,407 shares during the period. Hedge funds and other institutional investors own 61.69% of the company's stock.

Daktronics Stock Performance

Daktronics stock traded down $0.39 during trading on Friday, reaching $15.92. The company had a trading volume of 294,907 shares, compared to its average volume of 466,368. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89. The firm's 50-day simple moving average is $15.13 and its 200 day simple moving average is $14.59. The firm has a market capitalization of $781.88 million, a price-to-earnings ratio of -36.18, a price-to-earnings-growth ratio of 0.52 and a beta of 1.60. The company has a current ratio of 2.22, a quick ratio of 1.60 and a debt-to-equity ratio of 0.19.

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

Insider Activity

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 value of $14,900,000.00. Following the transaction, the insider owned 4,973,599 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.50% of the company's stock.

About Daktronics

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.