Russell Investments Group Ltd. Reduces Position in Daktronics, Inc. (NASDAQ:DAKT)

Russell Investments Group Ltd. lessened its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,208 shares of the technology company's stock after selling 20,796 shares during the period. Russell Investments Group Ltd. owned 0.29% of Daktronics worth $2,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Daktronics in the third quarter valued at about $427,000. Barclays PLC increased its position in Daktronics by 348.2% during the 3rd quarter. Barclays PLC now owns 58,388 shares of the technology company's stock worth $754,000 after purchasing an additional 45,360 shares during the period. Franklin Resources Inc. raised its stake in shares of Daktronics by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock worth $959,000 after buying an additional 654 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Daktronics in the 4th quarter valued at approximately $170,000. Finally, SG Americas Securities LLC boosted its stake in shares of Daktronics by 25.8% in the fourth quarter. SG Americas Securities LLC now owns 18,339 shares of the technology company's stock valued at $309,000 after buying an additional 3,758 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Daktronics news, Director Andrew David Siegel acquired 7,200 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were purchased at an average cost of $11.82 per share, with a total value of $85,104.00. Following the purchase, the director now owns 40,946 shares in the company, valued at approximately $483,981.72. The trade was a 21.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.50% of the company's stock.

Daktronics Price Performance

Shares of DAKT traded up $0.15 on Thursday, reaching $12.42. The stock had a trading volume of 34,278 shares, compared to its average volume of 478,395. The firm has a 50-day moving average of $13.14 and a 200 day moving average of $14.82. The firm has a market capitalization of $650.13 million, a PE ratio of 49.69, a PEG ratio of 0.57 and a beta of 1.34. Daktronics, Inc. has a twelve month low of $9.22 and a twelve month high of $19.89. 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 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.