Union Square Park Capital Management LLC Invests $1.10 Million in Daktronics, Inc. (NASDAQ:DAKT)

Union Square Park Capital Management LLC acquired a new position in Daktronics, Inc. (NASDAQ:DAKT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 65,000 shares of the technology company's stock, valued at approximately $1,096,000. Daktronics comprises 0.7% of Union Square Park Capital Management LLC's investment portfolio, making the stock its 25th biggest holding. Union Square Park Capital Management LLC owned about 0.14% of Daktronics as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Money Concepts Capital Corp raised its position in Daktronics by 0.4% during the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company's stock valued at $2,541,000 after acquiring an additional 607 shares in the last quarter. Franklin Resources Inc. raised its position in Daktronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock valued at $959,000 after acquiring an additional 654 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Daktronics by 29.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock valued at $71,000 after acquiring an additional 965 shares in the last quarter. Principal Financial Group Inc. raised its position in Daktronics by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock valued at $378,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Daktronics by 3.3% during the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock valued at $994,000 after acquiring an additional 1,889 shares in the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Daktronics Stock Performance

Shares of NASDAQ:DAKT opened at $15.39 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The business's 50 day moving average price is $12.86 and its 200-day moving average price is $14.91. The firm has a market capitalization of $767.85 million, a PE ratio of 61.56, a P/E/G ratio of 0.57 and a beta of 1.56. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $19.89.

Insiders Place Their Bets

In other Daktronics news, Director Andrew David Siegel purchased 2,500 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the acquisition, the director now owns 43,446 shares in the company, valued at $499,629. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.50% of the stock is currently owned by corporate insiders.

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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