Daktronics, Inc. (NASDAQ:DAKT) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 35.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,635 shares of the technology company's stock after selling 32,265 shares during the period. Kovack Advisors Inc. owned about 0.12% of Daktronics worth $972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DAKT. Progeny 3 Inc. boosted its holdings in Daktronics by 27.3% during the third quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company's stock worth $29,494,000 after buying an additional 489,700 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Daktronics during the 3rd quarter worth about $4,101,000. Charles Schwab Investment Management Inc. grew its position in shares of Daktronics by 76.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company's stock valued at $5,834,000 after acquiring an additional 195,830 shares during the period. FMR LLC increased its stake in shares of Daktronics by 5,451.9% in 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. Finally, Victory Capital Management Inc. raised its holdings in Daktronics by 31.6% in the 3rd quarter. Victory Capital Management Inc. now owns 191,799 shares of the technology company's stock worth $2,476,000 after purchasing an additional 46,104 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Daktronics

In other news, Director John Patrick Friel sold 2,244 shares of the stock in a transaction dated 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 directly owns 87,573 shares in the company, valued at $1,591,201.41. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $18.75, for a total transaction of $150,900.00. Following the transaction, the chief executive officer now owns 469,727 shares in the company, valued at $8,807,381.25. The trade was a 1.68 % 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.

Daktronics Price Performance

Shares of DAKT stock traded down $0.66 on Monday, reaching $14.60. 637,391 shares of the company were exchanged, compared to its average volume of 458,106. Daktronics, Inc. has a 1 year low of $8.62 and a 1 year 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 business has a 50-day moving average price of $16.48 and a 200 day moving average price of $15.12. The company has a market cap of $687.53 million, a price-to-earnings ratio of 58.40, a P/E/G ratio of 0.57 and a beta of 1.16.

Daktronics (NASDAQ:DAKT - Get Free Report) last posted its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.09). Daktronics had a return on equity of 19.61% and a net margin of 3.62%. Equities research analysts forecast that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated 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.

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.