Daktronics, Inc. (NASDAQ:DAKT) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its stake in Daktronics, Inc. (NASDAQ:DAKT) by 26.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,547 shares of the technology company’s stock after selling 1,287 shares during the quarter. NewEdge Advisors LLC’s holdings in Daktronics were worth $60,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Barclays PLC lifted its stake in shares of Daktronics by 348.2% in the 3rd quarter. Barclays PLC now owns 58,388 shares of the technology company’s stock valued at $754,000 after purchasing an additional 45,360 shares during the period. Franklin Resources Inc. grew its position in shares of Daktronics by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after acquiring an additional 654 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Daktronics in the 4th quarter valued at about $170,000. SG Americas Securities LLC boosted its position in Daktronics by 25.8% during the fourth quarter. SG Americas Securities LLC now owns 18,339 shares of the technology company’s stock worth $309,000 after purchasing an additional 3,758 shares in the last quarter. Finally, Money Concepts Capital Corp grew its holdings in Daktronics by 0.4% in the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company’s stock valued at $2,541,000 after purchasing an additional 607 shares during the period. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum started coverage on Daktronics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $26.00 target price for the company.

Daktronics Stock Up 4.4 %

DAKT stock opened at $13.42 on Friday. Daktronics, Inc. has a 52 week low of $10.24 and a 52 week high of $19.89. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $12.69 and a 200-day simple moving average of $14.81. The stock has a market capitalization of $702.36 million, a P/E ratio of 53.68, a P/E/G ratio of 0.57 and a beta of 1.34.

Insider Activity

In other news, Director Andrew David Siegel acquired 7,200 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were bought at an average price of $11.82 per share, for a total transaction of $85,104.00. Following the acquisition, the director now owns 40,946 shares of the company’s stock, valued at approximately $483,981.72. This trade represents a 21.34 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 5.20% of the company’s stock.

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.