Meros Investment Management LP Sells 210,958 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Meros Investment Management LP cut its stake in Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 43.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,853 shares of the technology company's stock after selling 210,958 shares during the period. Daktronics makes up approximately 1.6% of Meros Investment Management LP's holdings, making the stock its 28th biggest position. Meros Investment Management LP owned 0.59% of Daktronics worth $3,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Foundry Partners LLC bought a new stake in shares of Daktronics in the third quarter valued at about $4,101,000. Progeny 3 Inc. lifted its position in shares of Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company's stock worth $25,039,000 after acquiring an additional 1,047,156 shares during the period. PEAK6 Investments LLC grew its holdings in shares of Daktronics by 269.9% during the 3rd quarter. PEAK6 Investments LLC now owns 42,073 shares of the technology company's stock worth $543,000 after purchasing an additional 30,699 shares in the last quarter. Virtus Investment Advisers Inc. bought a new stake in shares of Daktronics during the third quarter valued at approximately $388,000. Finally, Atria Investments Inc bought a new stake in shares of Daktronics during the third quarter valued at approximately $171,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Daktronics Price Performance

Shares of DAKT traded down $0.55 during mid-day trading on Wednesday, reaching $18.69. The company had a trading volume of 707,708 shares, compared to its average volume of 508,092. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The company has a market capitalization of $878.17 million, a P/E ratio of 76.96, a P/E/G ratio of 0.73 and a beta of 1.19. Daktronics, Inc. has a twelve month low of $7.20 and a twelve month high of $19.89. The company's 50-day moving average is $14.53 and its 200-day moving average is $13.65.

Insider Buying and Selling at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company's stock, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares in the company, valued at $33,200. The trade was a 86.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.10% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on DAKT. StockNews.com raised Daktronics from a "hold" rating to a "buy" rating in a research report on Monday, October 14th. Singular Research upgraded shares of Daktronics to a "strong-buy" rating in a research report on Monday, September 9th.

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.