Sherbrooke Park Advisers LLC Makes New $330,000 Investment in Daktronics, Inc. (NASDAQ:DAKT)

Sherbrooke Park Advisers LLC bought a new position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,574 shares of the technology company's stock, valued at approximately $330,000.

Several other hedge funds also recently made changes to their positions in the company. Money Concepts Capital Corp lifted its stake in shares of Daktronics by 0.4% in the 4th quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company's stock worth $2,541,000 after acquiring an additional 607 shares during the period. Franklin Resources Inc. lifted its stake in shares of Daktronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock valued at $959,000 after purchasing an additional 654 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of Daktronics by 29.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock valued at $71,000 after purchasing an additional 965 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Daktronics by 8.5% in the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock valued at $378,000 after purchasing an additional 1,765 shares during the period. Finally, Rhumbline Advisers lifted 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 valued at $994,000 after purchasing an additional 1,889 shares during the period. Institutional investors and hedge funds own 61.69% of the company's stock.

Daktronics Price Performance

Shares of NASDAQ DAKT traded down $0.22 during midday trading on Friday, hitting $15.38. The company had a trading volume of 836,431 shares, compared to its average volume of 473,746. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a twelve month low of $10.24 and a twelve month high of $19.89. The business has a 50-day simple moving average of $13.09 and a two-hundred day simple moving average of $14.94. The firm has a market capitalization of $767.35 million, a price-to-earnings ratio of 61.52, a price-to-earnings-growth ratio of 0.57 and a beta of 1.56.

Insider Activity at Daktronics

In related news, Director Andrew David Siegel acquired 2,500 shares of Daktronics stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 43,446 shares of the company's stock, valued at approximately $499,629. This trade represents a 6.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company 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.