Lazard Asset Management LLC Acquires 48,051 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Lazard Asset Management LLC grew its position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 44.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,907 shares of the technology company's stock after buying an additional 48,051 shares during the quarter. Lazard Asset Management LLC owned 0.33% of Daktronics worth $2,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Daktronics by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock worth $378,000 after purchasing an additional 1,765 shares during the period. Rhumbline Advisers raised its holdings in shares of Daktronics by 3.3% in the 4th quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock worth $994,000 after purchasing an additional 1,889 shares during the period. Barclays PLC raised its holdings in shares of Daktronics by 19.2% in the 4th quarter. Barclays PLC now owns 69,593 shares of the technology company's stock worth $1,172,000 after purchasing an additional 11,205 shares during the period. Anchor Capital Advisors LLC raised its holdings in shares of Daktronics by 60.2% in the 4th quarter. Anchor Capital Advisors LLC now owns 171,346 shares of the technology company's stock worth $2,889,000 after purchasing an additional 64,360 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Daktronics in the 4th quarter worth approximately $187,000. Institutional investors own 61.69% of the company's stock.

Daktronics Stock Performance

Shares of NASDAQ:DAKT traded up $0.20 during mid-day trading on Thursday, reaching $15.51. The company had a trading volume of 56,485 shares, compared to its average volume of 467,917. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The firm has a market cap of $773.59 million, a price-to-earnings ratio of 61.91, a PEG ratio of 0.57 and a beta of 1.56. The company's 50-day moving average price is $12.98 and its 200-day moving average price is $14.91. Daktronics, Inc. has a one year low of $10.24 and a one year high of $19.89.

Insider Buying and Selling at Daktronics

In other Daktronics news, Director Andrew David Siegel bought 7,200 shares of the stock in a transaction on Monday, March 31st. The shares were acquired at an average price of $11.82 per share, with a total value of $85,104.00. Following the acquisition, the director now directly owns 40,946 shares of the company's stock, valued at $483,981.72. The trade was a 21.34% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.50% of the company's stock.

Analyst Ratings Changes

Separately, Craig Hallum started coverage on shares of Daktronics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $26.00 price target on the stock.

Daktronics 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.