Charles Schwab Investment Management Inc. Purchases 195,830 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,873 shares of the technology company’s stock after buying an additional 195,830 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.98% of Daktronics worth $5,834,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Daktronics by 92.3% in the 2nd 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 during the last quarter. CWM LLC increased its stake in Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock valued at $51,000 after purchasing an additional 872 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Daktronics in the first quarter worth $109,000. Atria Investments Inc bought a new position in shares of Daktronics during the third quarter worth $171,000. Finally, SG Americas Securities LLC bought a new position in shares of Daktronics during the third quarter worth $188,000. 61.69% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the sale, the vice president now 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. Corporate insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

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

Daktronics Stock Down 8.6 %

Daktronics stock opened at $17.08 on Friday. The company has a 50 day moving average of $14.72 and a 200-day moving average of $13.71. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a twelve month low of $7.20 and a twelve month high of $19.89. The stock has a market capitalization of $802.52 million, a PE ratio of 68.32, a price-to-earnings-growth ratio of 0.73 and a beta of 1.19.

About Daktronics

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.