Daktronics, Inc. (NASDAQ:DAKT) Shares Sold by Breach Inlet Capital Management LLC

Breach Inlet Capital Management LLC lessened its position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 27.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 907,314 shares of the technology company's stock after selling 339,571 shares during the period. Daktronics accounts for 10.8% of Breach Inlet Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Breach Inlet Capital Management LLC owned about 1.93% of Daktronics worth $15,297,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 195,830 shares during the period. FMR LLC boosted its stake in shares of Daktronics by 5,451.9% during the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company's stock valued at $629,000 after purchasing an additional 47,813 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Daktronics in the 3rd quarter worth about $164,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Daktronics during the third quarter valued at approximately $427,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Daktronics in the 3rd quarter worth approximately $216,000. Hedge funds and other institutional investors own 61.69% of the company's stock.

Insider Buying and Selling at Daktronics

In other news, Director Andrew David Siegel bought 2,500 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director now owns 43,446 shares of the company's stock, valued at approximately $499,629. This represents a 6.11 % 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. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Daktronics Stock Performance

Shares of NASDAQ DAKT traded down $0.26 during midday trading on Thursday, hitting $12.23. 117,135 shares of the stock traded hands, compared to its average volume of 482,948. Daktronics, Inc. has a one year low of $8.81 and a one year high of $19.89. The firm has a 50-day moving average of $13.93 and a two-hundred day moving average of $14.87. 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 firm has a market capitalization of $639.92 million, a P/E ratio of 48.44, a PEG ratio of 0.57 and a beta of 1.34.

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.