Barclays PLC Raises Stake in Daktronics, Inc. (NASDAQ:DAKT)

Barclays PLC grew its stake in Daktronics, Inc. (NASDAQ:DAKT) by 348.2% in the third quarter, Holdings Channel reports. The fund owned 58,388 shares of the technology company’s stock after purchasing an additional 45,360 shares during the period. Barclays PLC’s holdings in Daktronics were worth $754,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DAKT. Quarry LP increased its position in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Daktronics by 92.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after buying an additional 1,108 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of Daktronics during the 3rd quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Daktronics during the 3rd quarter worth $164,000. Finally, Atria Investments Inc acquired a new stake in shares of Daktronics during the 3rd quarter worth about $171,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Daktronics Stock Down 0.3 %

DAKT opened at $16.86 on Wednesday. Daktronics, Inc. has a one year low of $7.20 and a one year high of $19.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The stock has a market capitalization of $792.18 million, a P/E ratio of 67.44, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19. The business’s 50-day simple moving average is $15.63 and its 200-day simple moving average is $14.24.

Insiders Place Their Bets

In other news, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total transaction of $40,773.48. Following the transaction, the director now directly owns 87,573 shares in the company, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at approximately $33,200. This trade represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,692 shares of company stock valued at $396,185 over the last quarter. Company insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

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.