Insider Selling: Daktronics (NASDAQ:DAKT) Insider Sells $72,756.36 in Stock

Daktronics, Inc. (NASDAQ:DAKT) insider Sheila Mae Anderson sold 3,636 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $20.01, for a total value of $72,756.36. Following the sale, the insider directly owned 48,371 shares in the company, valued at $967,903.71. This represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Daktronics Stock Performance

Shares of DAKT stock traded down $0.36 on Thursday, hitting $19.52. The company had a trading volume of 324,788 shares, compared to its average volume of 473,685. Daktronics, Inc. has a twelve month low of $15.59 and a twelve month high of $28.27. The company has a quick ratio of 1.74, a current ratio of 2.31 and a debt-to-equity ratio of 0.18. The firm has a market cap of $942.38 million, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 0.60 and a beta of 1.67. The company has a 50-day moving average price of $19.91 and a 200-day moving average price of $21.10.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.The company had revenue of $208.61 million during the quarter, compared to analysts’ expectations of $205.27 million. During the same period last year, the business earned ($0.19) earnings per share. As a group, equities research analysts predict that Daktronics, Inc. will post 1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Daktronics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 15th. Roth Mkm increased their price objective on shares of Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen raised shares of Daktronics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, Weiss Ratings upgraded shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.00.

Hedge Funds Weigh In On Daktronics

Several hedge funds and other institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Daktronics by 0.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,856 shares of the technology company’s stock valued at $1,440,000 after acquiring an additional 519 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Daktronics by 7.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,601 shares of the technology company’s stock valued at $210,000 after purchasing an additional 707 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Daktronics by 12.7% in the fourth quarter. Royal Bank of Canada now owns 6,430 shares of the technology company’s stock valued at $127,000 after purchasing an additional 724 shares during the last quarter. Osaic Holdings Inc. lifted its position in Daktronics by 3.2% during the second quarter. Osaic Holdings Inc. now owns 23,638 shares of the technology company’s stock worth $357,000 after buying an additional 728 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Daktronics by 5.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 13,195 shares of the technology company’s stock worth $261,000 after buying an additional 730 shares during the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.