Northern Trust Corp Increases Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Northern Trust Corp boosted its position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 409,577 shares of the technology company's stock after buying an additional 51,643 shares during the quarter. Northern Trust Corp owned approximately 0.87% of Daktronics worth $6,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DAKT. Summit Investment Advisors Inc. lifted its holdings in shares of Daktronics by 29.9% in 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 last quarter. KLP Kapitalforvaltning AS purchased a new position in Daktronics in the 4th quarter worth $125,000. Knott David M Jr purchased a new position in Daktronics in the 4th quarter worth $132,000. Retirement Solution LLC bought a new stake in Daktronics in the fourth quarter worth $169,000. Finally, Fox Run Management L.L.C. purchased a new stake in Daktronics during the fourth quarter valued at about $169,000. Hedge funds and other institutional investors own 61.69% of the company's stock.

Wall Street Analyst Weigh In

Separately, Craig Hallum started coverage on Daktronics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $26.00 price objective on the stock.

Daktronics Stock Performance

Shares of DAKT stock opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics, Inc. has a fifty-two week low of $10.24 and a fifty-two week high of $19.89. The stock has a 50 day moving average price of $12.86 and a two-hundred day moving average price of $14.91. The company has a market capitalization of $767.85 million, a P/E ratio of 61.56, a PEG ratio of 0.57 and a beta of 1.56.

Insiders Place Their Bets

In other news, Director Andrew David Siegel bought 2,500 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the acquisition, the director now owns 43,446 shares in the company, valued at approximately $499,629. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.50% 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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