LPL Financial LLC Buys 304,071 Shares of Daktronics, Inc. (NASDAQ:DAKT)

LPL Financial LLC increased its position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 1,589.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 323,204 shares of the technology company's stock after acquiring an additional 304,071 shares during the quarter. LPL Financial LLC owned 0.69% of Daktronics worth $5,449,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DAKT. Money Concepts Capital Corp boosted its position in Daktronics by 0.4% during the 4th quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company's stock worth $2,541,000 after acquiring an additional 607 shares during the period. Franklin Resources Inc. lifted its position in shares of Daktronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock worth $959,000 after purchasing an additional 654 shares in the last quarter. Quarry LP boosted its holdings in shares of 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 period. Principal Financial Group Inc. grew its position in Daktronics by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock valued at $378,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Daktronics by 3.3% in the 4th quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock valued at $994,000 after buying an additional 1,889 shares during the period. Hedge funds and other institutional investors own 61.69% of the company's stock.

Insider Buying and Selling

In other Daktronics news, Director Andrew David Siegel acquired 2,500 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the acquisition, the director now owns 43,446 shares of the company's stock, valued at approximately $499,629. This trade represents a 6.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Daktronics Stock Up 1.2 %

DAKT stock traded up $0.15 during mid-day trading on Friday, hitting $12.32. The stock had a trading volume of 208,486 shares, compared to its average volume of 483,641. Daktronics, Inc. has a 1-year low of $8.81 and a 1-year high of $19.89. The company has a fifty day moving average of $13.76 and a 200 day moving average of $14.89. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $644.79 million, a price-to-earnings ratio of 49.28, a PEG ratio of 0.57 and a beta of 1.34.

Daktronics 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.