Kovack Advisors Inc. lowered its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 47.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,900 shares of the technology company's stock after selling 82,200 shares during the quarter. Kovack Advisors Inc. owned about 0.19% of Daktronics worth $1,161,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company's stock worth $32,000 after acquiring an additional 1,108 shares in the last quarter. CWM LLC boosted its stake in shares of Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company's stock valued at $51,000 after buying an additional 872 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Daktronics by 150.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company's stock valued at $56,000 after buying an additional 2,400 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Daktronics during the first quarter worth approximately $105,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in shares of Daktronics in the first quarter worth $109,000. 61.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
DAKT has been the subject of several recent analyst reports. Singular Research raised shares of Daktronics to a "strong-buy" rating in a report on Monday, September 9th. StockNews.com upgraded Daktronics from a "hold" rating to a "buy" rating in a research note on Monday, October 14th.
View Our Latest Stock Analysis on Daktronics
Insider Transactions at Daktronics
In related news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at $1,101,398.94. This represents a 22.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the sale, the vice president now owns 2,500 shares in the company, valued at $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 8.10% of the company's stock.
Daktronics Stock Performance
DAKT stock traded down $0.05 during mid-day trading on Thursday, reaching $14.75. The company had a trading volume of 256,774 shares, compared to its average volume of 500,152. Daktronics, Inc. has a one year low of $7.20 and a one year high of $15.97. The stock has a market capitalization of $683.52 million, a P/E ratio of 184.38, a P/E/G ratio of 0.55 and a beta of 1.14. The company has a quick ratio of 1.48, a current ratio of 2.17 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $12.94.
Daktronics (NASDAQ:DAKT - Get Free Report) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. Research analysts anticipate that Daktronics, Inc. will post 0.89 EPS for the current year.
Daktronics Company Profile
(
Free Report)
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.
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