Daktronics, Inc. (NASDAQ:DAKT) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570,061 shares of the technology company's stock after buying an additional 50,148 shares during the quarter. Renaissance Technologies LLC owned about 1.21% of Daktronics worth $9,611,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Daktronics during the third quarter worth $427,000. FMR LLC grew its position in shares of Daktronics by 5,451.9% in the third 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 during the period. Barclays PLC boosted its holdings in Daktronics by 348.2% in the 3rd quarter. Barclays PLC now owns 58,388 shares of the technology company's stock worth $754,000 after buying an additional 45,360 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Daktronics by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock worth $378,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Daktronics by 3.3% during the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock worth $994,000 after buying an additional 1,889 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Daktronics

In other Daktronics news, Director Andrew David Siegel acquired 2,500 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $11.50 per share, with a total value of $28,750.00. Following the completion of the purchase, the director now owns 43,446 shares in the company, valued at $499,629. This trade represents a 6.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.50% of the company's stock.

Daktronics Trading Up 0.9 %

Shares of NASDAQ DAKT traded up $0.11 during mid-day trading on Tuesday, reaching $12.18. 210,275 shares of the company's stock were exchanged, compared to its average volume of 479,866. The company's 50-day moving average is $13.21 and its 200-day moving average is $14.84. Daktronics, Inc. has a 52-week low of $9.10 and a 52-week 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 firm has a market capitalization of $637.46 million, a price-to-earnings ratio of 48.72, a PEG ratio of 0.57 and a beta of 1.34.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum began coverage on Daktronics in a report on Wednesday, January 22nd. They issued a "buy" rating and a $26.00 price target for the company.

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.