Wealth Enhancement Advisory Services LLC Raises Stake in Daktronics, Inc. (NASDAQ:DAKT)

Wealth Enhancement Advisory Services LLC raised its holdings in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 132.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 74,239 shares of the technology company's stock after purchasing an additional 42,349 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.14% of Daktronics worth $904,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rhumbline Advisers increased its position in Daktronics by 3.3% in the 4th 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 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. Atria Investments Inc lifted its stake in shares of Daktronics by 17.0% in the fourth quarter. Atria Investments Inc now owns 15,508 shares of the technology company's stock valued at $261,000 after purchasing an additional 2,252 shares during the period. Raymond James Financial Inc. purchased a new stake in Daktronics during the fourth quarter worth about $760,000. Finally, Retirement Solution LLC acquired a new position in Daktronics during the fourth quarter worth about $169,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Daktronics news, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the completion of the transaction, the insider directly owned 4,973,599 shares in the company, valued at approximately $74,106,625.10. This trade represents a 16.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 price of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director directly owned 43,446 shares of the company's stock, valued at approximately $499,629. The trade was a 6.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.50% of the stock is owned by insiders.

Daktronics Price Performance

DAKT stock opened at $16.45 on Thursday. The firm has a 50 day moving average of $14.36 and a 200-day moving average of $14.66. The company has a market cap of $807.86 million, a price-to-earnings ratio of -37.39, a PEG ratio of 0.50 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, Inc. has a 12-month low of $10.24 and a 12-month high of $19.89.

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

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.

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