Arrowstreet Capital Limited Partnership Lowers Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

Arrowstreet Capital Limited Partnership reduced its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 32.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,385 shares of the technology company's stock after selling 160,153 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.72% of Daktronics worth $5,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Money Concepts Capital Corp grew its holdings in shares of Daktronics by 0.4% in the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company's stock valued at $2,541,000 after purchasing an additional 607 shares during the period. Franklin Resources Inc. grew its stake in shares of Daktronics by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company's stock valued at $959,000 after buying an additional 654 shares during the period. Quarry LP increased 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 during the last quarter. Principal Financial Group Inc. raised its position in shares of Daktronics by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock valued at $378,000 after buying an additional 1,765 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Daktronics by 3.3% in the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company's stock valued at $994,000 after acquiring an additional 1,889 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Daktronics

In other Daktronics news, Director Andrew David Siegel bought 2,500 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $11.50 per share, with a total value of $28,750.00. Following the transaction, the director now owns 43,446 shares of the company's stock, valued at approximately $499,629. The trade was a 6.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company's stock.

Daktronics Stock Up 1.2 %

NASDAQ DAKT traded up $0.15 during trading hours on Friday, hitting $12.32. 208,486 shares of the company were exchanged, compared to its average volume of 483,460. 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 firm has a market cap of $644.79 million, a price-to-earnings ratio of 49.28, a PEG ratio of 0.57 and a beta of 1.34. The company has a 50 day moving average of $13.76 and a two-hundred day moving average of $14.87. Daktronics, Inc. has a 52-week low of $8.81 and a 52-week high of $19.89.

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.