Summit Global Investments Acquires New Position in Daktronics, Inc. (NASDAQ:DAKT)

Summit Global Investments purchased a new position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 17,069 shares of the technology company's stock, valued at approximately $208,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in shares of Daktronics by 55.8% during the fourth quarter. Deutsche Bank AG now owns 30,648 shares of the technology company's stock worth $517,000 after buying an additional 10,977 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Daktronics by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock worth $378,000 after buying an additional 1,765 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Daktronics by 3.3% during the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock worth $994,000 after buying an additional 1,889 shares in the last quarter. Barclays PLC grew its holdings in shares of Daktronics by 19.2% during the fourth quarter. Barclays PLC now owns 69,593 shares of the technology company's stock worth $1,172,000 after buying an additional 11,205 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of Daktronics during the fourth quarter worth $190,000. Hedge funds and other institutional investors own 61.69% of the company's stock.

Daktronics Price Performance

Shares of Daktronics stock traded down $0.04 during trading hours on Wednesday, reaching $14.03. 243,384 shares of the company's stock were exchanged, compared to its average volume of 493,980. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $19.89. The company has a market capitalization of $700.00 million, a P/E ratio of 56.12, a price-to-earnings-growth ratio of 0.57 and a beta of 1.62. The business has a fifty day moving average of $13.39 and a two-hundred day moving average of $14.95. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40.

Insider Transactions at Daktronics

In related news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.90, for a total value of $14,900,000.00. Following the completion of the sale, the insider now 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 can be accessed through this link. Also, Director Andrew David Siegel acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $11.50 per share, with a total value of $28,750.00. Following the acquisition, the director now directly 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. Insiders own 5.20% 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.