Daktronics (NASDAQ:DAKT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Daktronics (NASDAQ:DAKT) from a hold rating to a buy rating in a research report sent to investors on Monday.

Daktronics Stock Performance

Shares of DAKT opened at $13.97 on Monday. Daktronics has a 12 month low of $6.33 and a 12 month high of $14.58. The stock has a fifty day moving average price of $11.74 and a 200-day moving average price of $9.74. The company has a current ratio of 2.09, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. The firm has a market cap of $646.76 million, a PE ratio of 22.90, a P/E/G ratio of 0.40 and a beta of 1.12.

Insider Activity

In other news, EVP Bradley T. Wiemann sold 7,500 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares in the company, valued at approximately $1,803,115.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Bradley T. Wiemann sold 7,500 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares in the company, valued at approximately $1,803,115.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Reece A. Kurtenbach sold 15,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $13.87, for a total value of $208,050.00. Following the sale, the chief executive officer now owns 457,963 shares of the company’s stock, valued at approximately $6,351,946.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,626 shares of company stock worth $325,688. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Daktronics

Several hedge funds have recently made changes to their positions in DAKT. Jacobs Levy Equity Management Inc. increased its position in shares of Daktronics by 5.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 478,204 shares of the technology company’s stock valued at $4,266,000 after acquiring an additional 23,469 shares during the period. Vanguard Group Inc. increased its position in shares of Daktronics by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,154,605 shares of the technology company’s stock valued at $19,219,000 after acquiring an additional 11,194 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Daktronics by 11.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 23,600 shares of the technology company’s stock valued at $211,000 after acquiring an additional 2,400 shares during the period. SG Americas Securities LLC increased its position in shares of Daktronics by 26.9% in the 4th quarter. SG Americas Securities LLC now owns 20,815 shares of the technology company’s stock valued at $177,000 after acquiring an additional 4,416 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its position in shares of Daktronics by 362.4% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 49,506 shares of the technology company’s stock valued at $420,000 after acquiring an additional 38,800 shares during the period. 61.69% of the stock is owned by institutional investors and hedge funds.

About Daktronics

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.