PEAK6 Investments LLC Buys 30,699 Shares of Daktronics, Inc. (NASDAQ:DAKT)

PEAK6 Investments LLC raised its stake in shares of Daktronics, Inc. (NASDAQ:DAKT - Free Report) by 269.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 42,073 shares of the technology company's stock after purchasing an additional 30,699 shares during the period. PEAK6 Investments LLC owned approximately 0.09% of Daktronics worth $543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Daktronics in the 3rd quarter worth about $164,000. FMR LLC boosted its position in Daktronics by 5,451.9% during the third quarter. FMR LLC now owns 48,690 shares of the technology company's stock worth $629,000 after purchasing an additional 47,813 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Daktronics in the 3rd quarter worth approximately $564,000. Charles Schwab Investment Management Inc. grew its position in shares of Daktronics by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company's stock valued at $5,834,000 after purchasing an additional 195,830 shares in the last quarter. Finally, Foundry Partners LLC bought a new position in Daktronics in the 3rd quarter worth about $4,101,000. 61.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Daktronics

In other news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction dated Friday, September 27th. The stock was 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 of the company's stock, valued at $1,101,398.94. The trade was a 22.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of the company's stock in a transaction that occurred on Thursday, October 3rd. The shares were 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. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Singular Research upgraded Daktronics to a "strong-buy" rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Daktronics from a "hold" rating to a "buy" rating in a research note on Monday, October 14th.

Daktronics Price Performance

NASDAQ DAKT traded up $2.29 during trading on Wednesday, reaching $18.62. The company's stock had a trading volume of 1,736,646 shares, compared to its average volume of 500,796. The stock has a market capitalization of $862.85 million, a PE ratio of 241.50, a P/E/G ratio of 0.60 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The firm has a fifty day moving average of $13.91 and a 200 day moving average of $13.38. Daktronics, Inc. has a one year low of $7.20 and a one year high of $19.81.

Daktronics (NASDAQ:DAKT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.06. The business had revenue of $226.09 million for the quarter, compared to analysts' expectations of $216.84 million. Daktronics had a return on equity of 19.92% and a net margin of 1.29%. Analysts expect that Daktronics, Inc. will post 0.89 EPS for the current fiscal year.

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.