Meros Investment Management LP Lowers Stock Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Meros Investment Management LP lowered its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 43.4% during the third quarter, HoldingsChannel.com reports. 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 largest holding. Meros Investment Management LP’s holdings in Daktronics were worth $3,548,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. CWM LLC boosted its position in Daktronics by 31.4% during the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares in the last quarter. Quarry LP boosted its position in Daktronics by 75.6% during the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares in the last quarter. Anchor Capital Advisors LLC lifted its position in shares of Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Daktronics by 10.9% in the second quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock valued at $806,000 after acquiring an additional 5,689 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Wall Street Analyst Weigh In

DAKT has been the topic of several research reports. Singular Research upgraded Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Insiders Place Their Bets

In related news, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction 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 sale, the vice president now owns 2,500 shares in the company, valued at approximately $33,200. The trade was a 86.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bradley T. Wiemann sold 25,000 shares of the company’s 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 sale, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Daktronics Stock Performance

NASDAQ DAKT opened at $19.24 on Wednesday. The stock’s fifty day moving average is $14.53 and its two-hundred day moving average is $13.65. The firm has a market capitalization of $904.01 million, a P/E ratio of 76.96, a price-to-earnings-growth ratio of 0.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week high of $19.89.

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.