Kovack Advisors Inc. trimmed its stake in Daktronics, Inc. (NASDAQ:DAKT – Free Report) by 35.9% during the fourth quarter, Holdings Channel reports. The fund owned 57,635 shares of the technology company’s stock after selling 32,265 shares during the quarter. Kovack Advisors Inc.’s holdings in Daktronics were worth $972,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAKT. Progeny 3 Inc. raised its position in shares of Daktronics by 27.3% in the third quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company’s stock valued at $29,494,000 after purchasing an additional 489,700 shares during the period. Foundry Partners LLC acquired a new position in Daktronics in the 3rd quarter valued at $4,101,000. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock worth $5,834,000 after acquiring an additional 195,830 shares during the period. FMR LLC lifted its position in Daktronics by 5,451.9% during the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company’s stock worth $629,000 after acquiring an additional 47,813 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Daktronics by 31.6% during the third quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company’s stock valued at $2,476,000 after acquiring an additional 46,104 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Craig Hallum initiated coverage on Daktronics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price objective on the stock.
Insider Activity at Daktronics
In other Daktronics news, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the sale, the director now owns 87,573 shares in the company, valued at approximately $1,591,201.41. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at $8,807,381.25. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.
Daktronics Stock Down 3.1 %
DAKT opened at $15.31 on Friday. The business has a 50 day moving average of $16.51 and a 200-day moving average of $15.11. The stock has a market capitalization of $720.96 million, a price-to-earnings ratio of 61.24, a P/E/G ratio of 0.57 and a beta of 1.16. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 1-year low of $7.38 and a 1-year high of $19.89.
Daktronics (NASDAQ:DAKT – Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. As a group, sell-side analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current year.
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.
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