Insider Selling: Daktronics (NASDAQ:DAKT) EVP Sells $76,880.00 in Stock

Key Points

• Daktronics EVP Bradley Wiemann sold 4,000 shares at an average price of $19.22, for proceeds of $76,880. The sale reduced his direct holdings by 3.08% to 125,946 shares.
• Daktronics shares traded near $19.76, with the stock ranging from $15.59 to $28.27 over the past year. The company recently reported quarterly EPS of $0.27, exceeding the $0.20 consensus estimate, and revenue of $208.61 million.
• Analysts maintain a consensus “Hold” rating and a $29.00 price target, while institutional investors own 61.69% of the company.

Daktronics, Inc. (NASDAQ:DAKT - Get Free Report) EVP Bradley Wiemann sold 4,000 shares of Daktronics stock in a transaction dated Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the completion of the sale, the executive vice president directly owned 125,946 shares of the company's stock, valued at approximately $2,420,682.12. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Daktronics Stock Performance

NASDAQ DAKT traded down $0.03 during trading on Tuesday, hitting $19.76. 146,947 shares of the company's stock traded hands, compared to its average volume of 477,090. The stock has a market capitalization of $953.92 million, a price-to-earnings ratio of 21.71, a PEG ratio of 0.64 and a beta of 1.67. Daktronics, Inc. has a 12-month low of $15.59 and a 12-month high of $28.27. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.74 and a current ratio of 2.31. The business has a 50 day moving average of $19.94 and a 200-day moving average of $21.18.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.07. The firm had revenue of $208.61 million during the quarter, compared to the consensus estimate of $205.27 million. Daktronics had a net margin of 5.41% and a return on equity of 17.62%. During the same quarter last year, the company earned ($0.19) earnings per share. As a group, equities research analysts anticipate that Daktronics, Inc. will post 1.21 earnings per share for the current fiscal year.

Institutional Trading of Daktronics

Several institutional investors and hedge funds have recently bought and sold shares of DAKT. Duquesne Family Office LLC grew its position in shares of Daktronics by 0.3% during the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company's stock valued at $46,513,000 after purchasing an additional 8,599 shares in the last quarter. Progeny 3 Inc. raised its position in shares of Daktronics by 3.6% in the third quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company's stock worth $57,455,000 after buying an additional 96,371 shares in the last quarter. Breach Inlet Capital Management LLC boosted its stake in Daktronics by 32.8% during the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company's stock valued at $25,158,000 after buying an additional 314,133 shares during the period. Renaissance Technologies LLC boosted its stake in Daktronics by 13.1% during the first quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company's stock valued at $16,087,000 after buying an additional 95,393 shares during the period. Finally, Invesco Ltd. grew its position in Daktronics by 399.2% during the second quarter. Invesco Ltd. now owns 510,243 shares of the technology company's stock worth $7,715,000 after buying an additional 408,037 shares in the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded Daktronics from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, June 25th. Roth Capital lifted their price target on Daktronics from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Wall Street Zen lowered Daktronics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, Zacks Research raised Daktronics from a "strong sell" rating to a "hold" rating in a report on Monday, June 15th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $29.00.

Daktronics Company Profile

Daktronics, Inc NASDAQ: DAKT is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company's primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.

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