Progeny 3 Inc. Purchases 106,400 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Progeny 3 Inc. lifted its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,391,008 shares of the technology company's stock after buying an additional 106,400 shares during the period. Daktronics makes up 3.2% of Progeny 3 Inc.'s portfolio, making the stock its 16th biggest position. Progeny 3 Inc. owned 5.08% of Daktronics worth $40,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Summit Investment Advisors Inc. raised its stake in shares of 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 purchasing an additional 965 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Daktronics in the 4th quarter worth approximately $125,000. Knott David M Jr bought a new stake in Daktronics during the fourth quarter valued at $132,000. Retirement Solution LLC acquired a new stake in Daktronics during the fourth quarter worth about $169,000. Finally, Fox Run Management L.L.C. acquired a new stake in Daktronics in the fourth quarter worth $169,000. Institutional investors and hedge funds own 61.69% of the company's stock.

Insider Transactions at Daktronics

In other news, Director Andrew David Siegel purchased 2,500 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the acquisition, the director now directly owns 43,446 shares in the company, valued at approximately $499,629. The trade was a 6.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.50% of the stock is owned by insiders.

Daktronics Stock Performance

Daktronics stock traded up $0.20 during mid-day trading on Tuesday, reaching $15.59. The company had a trading volume of 59,566 shares, compared to its average volume of 467,767. The company has a 50 day moving average of $12.86 and a 200-day moving average of $14.91. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89. The firm has a market cap of $777.58 million, a price-to-earnings ratio of 62.34, a PEG ratio of 0.57 and a beta of 1.56.

Wall Street Analysts Forecast Growth

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

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.