Anchor Capital Advisors LLC Purchases 64,360 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Anchor Capital Advisors LLC raised its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 60.2% in the 4th quarter, Holdings Channel reports. The firm owned 171,346 shares of the technology company’s stock after acquiring an additional 64,360 shares during the period. Anchor Capital Advisors LLC’s holdings in Daktronics were worth $2,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DAKT. Quarry LP raised its holdings in shares of Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after buying an additional 989 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in Daktronics in the third quarter valued at about $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Daktronics during the third quarter worth about $164,000. Hennessy Advisors Inc. bought a new position in shares of Daktronics in the fourth quarter worth about $170,000. Finally, Atria Investments Inc bought a new stake in shares of Daktronics during the 3rd quarter valued at approximately $171,000. 61.69% of the stock is currently owned by institutional investors.

Daktronics Trading Down 0.3 %

NASDAQ DAKT opened at $15.26 on Friday. The company has a market cap of $718.61 million, a price-to-earnings ratio of 61.04, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. Daktronics, Inc. has a twelve month low of $8.55 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. The business’s fifty day moving average is $16.48 and its 200 day moving average is $15.12.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, December 4th. The technology company reported $0.08 EPS 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 expect that Daktronics, Inc. will post 0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Reece A. Kurtenbach sold 8,048 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total value of $150,900.00. Following the completion of the sale, the chief executive officer now owns 469,727 shares of the company’s stock, valued at approximately $8,807,381.25. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Patrick Friel sold 2,244 shares of the company’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 value of $40,773.48. Following the completion of the sale, the director now owns 87,573 shares in the company, valued at $1,591,201.41. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Craig Hallum started coverage on shares of Daktronics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price objective for the company.

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.