Daktronics, Inc. (NASDAQ:DAKT) Holdings Reduced by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 37.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,449 shares of the technology company's stock after selling 26,543 shares during the period. Franklin Resources Inc. owned approximately 0.09% of Daktronics worth $749,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Daktronics by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,450,964 shares of the technology company's stock worth $41,323,000 after buying an additional 11,099 shares during the period. American Century Companies Inc. increased its position in shares of Daktronics by 11.3% during the fourth quarter. American Century Companies Inc. now owns 1,388,284 shares of the technology company's stock worth $23,406,000 after acquiring an additional 140,482 shares during the last quarter. LPL Financial LLC increased its position in shares of Daktronics by 1,589.2% during the fourth quarter. LPL Financial LLC now owns 323,204 shares of the technology company's stock worth $5,449,000 after acquiring an additional 304,071 shares during the last quarter. Anthracite Investment Company Inc. lifted its stake in shares of Daktronics by 13.6% in the fourth quarter. Anthracite Investment Company Inc. now owns 285,223 shares of the technology company's stock worth $4,809,000 after acquiring an additional 34,205 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Daktronics by 5.1% in the fourth quarter. Empowered Funds LLC now owns 237,609 shares of the technology company's stock valued at $4,006,000 after purchasing an additional 11,539 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Andrew David Siegel bought 2,500 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $11.50 per share, with a total value of $28,750.00. Following the completion of the transaction, the director now directly owns 43,446 shares of the company's stock, valued at approximately $499,629. This represents a 6.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

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

Daktronics Stock Up 0.9 %

NASDAQ:DAKT traded up $0.11 during mid-day trading on Tuesday, reaching $12.18. The stock had a trading volume of 210,275 shares, compared to its average volume of 479,866. The stock's 50 day simple moving average is $13.21 and its two-hundred day simple moving average is $14.84. Daktronics, Inc. has a 1-year low of $9.10 and a 1-year high of $19.89. The company has a market capitalization of $637.46 million, a price-to-earnings ratio of 48.72, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67.

Daktronics Company 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.