Foundry Partners LLC Purchases 171,455 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Foundry Partners LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 54.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 489,087 shares of the technology company's stock after buying an additional 171,455 shares during the quarter. Foundry Partners LLC owned about 1.04% of Daktronics worth $8,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Money Concepts Capital Corp increased its holdings 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. raised 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 buying an additional 654 shares in the last quarter. Quarry LP increased its stake in Daktronics by 75.6% in the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company's stock worth $30,000 after acquiring an additional 989 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Daktronics by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company's stock valued at $378,000 after acquiring an additional 1,765 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Daktronics by 3.3% during the 4th 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 hedge funds and other institutional investors.

Daktronics Price Performance

Shares of Daktronics stock traded up $0.03 during trading on Wednesday, hitting $11.34. 60,828 shares of the stock traded hands, compared to its average volume of 482,242. The stock has a market cap of $593.50 million, a price-to-earnings ratio of 45.08, a PEG ratio of 0.57 and a beta of 1.34. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 52 week low of $8.81 and a 52 week high of $19.89. The firm's fifty day moving average is $14.10 and its 200-day moving average is $14.89.

Analysts Set New Price Targets

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

Insider Buying and Selling at Daktronics

In other Daktronics news, Director Andrew David Siegel purchased 7,200 shares of the business's stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the completion of the transaction, the director now directly owns 40,946 shares in the company, valued at approximately $483,981.72. This represents a 21.34 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.20% of the company's stock.

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.