Lazard Asset Management LLC Increases Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

Lazard Asset Management LLC lifted 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 13F filing with the Securities & Exchange Commission. The institutional investor owned 156,907 shares of the technology company's stock after acquiring 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 SEC filing.

Other hedge funds have also modified their holdings of the company. Summit Investment Advisors Inc. lifted its stake in Daktronics by 29.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company's stock valued at $71,000 after buying an additional 965 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Daktronics in the 4th quarter valued at about $125,000. Knott David M Jr purchased a new position in Daktronics in the 4th quarter valued at about $132,000. Fox Run Management L.L.C. purchased a new position in Daktronics in the 4th quarter valued at about $169,000. Finally, Retirement Solution LLC purchased a new position in Daktronics in the 4th quarter valued at about $169,000. 61.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Daktronics Price Performance

Daktronics stock traded up $0.01 during midday trading on Tuesday, reaching $15.40. The company had a trading volume of 222,733 shares, compared to its average volume of 468,406. The company has a market capitalization of $768.35 million, a P/E ratio of 61.60, a P/E/G ratio of 0.57 and a beta of 1.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics, Inc. has a 12-month low of $10.24 and a 12-month high of $19.89. The firm's fifty day simple moving average is $12.86 and its 200-day simple moving average is $14.91.

Insider Buying and Selling at Daktronics

In other news, Director Andrew David Siegel purchased 7,200 shares of the business's stock in a transaction dated Monday, March 31st. The stock was acquired at an average price of $11.82 per share, for a total transaction of $85,104.00. Following the acquisition, the director now directly owns 40,946 shares of the company's stock, valued at approximately $483,981.72. This represents a 21.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

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.