Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Decreases By 5.6%

Daktronics, Inc. (NASDAQ:DAKT) was the recipient of a significant decline in short interest in September. As of September 30th, there was short interest totalling 2,680,000 shares, a decline of 5.6% from the September 15th total of 2,840,000 shares. Approximately 6.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 524,100 shares, the short-interest ratio is presently 5.1 days.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research report on Monday.

Daktronics Stock Performance

DAKT opened at $13.62 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. The company has a market cap of $630.55 million, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 0.47 and a beta of 1.14. The firm has a 50 day simple moving average of $13.51 and a 200 day simple moving average of $12.35. Daktronics has a fifty-two week low of $7.20 and a fifty-two week high of $15.97.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $226.09 million during the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. On average, sell-side analysts anticipate that Daktronics will post 0.89 earnings per share for the current year.

Insider Buying and Selling at Daktronics

In other Daktronics news, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the transaction, the vice president now directly owns 2,500 shares in the company, valued at $33,200. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the executive vice president now directly owns 85,446 shares in the company, valued at $1,101,398.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 15,400 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 2,500 shares in the company, valued at approximately $33,200. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,872 shares of company stock worth $608,838 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Daktronics in the third quarter valued at approximately $188,000. Northwestern Mutual Wealth Management Co. increased its stake in 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 purchasing an additional 1,108 shares in the last quarter. Meros Investment Management LP increased its stake in Daktronics by 1.6% in the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after purchasing an additional 7,885 shares in the last quarter. Duquesne Family Office LLC increased its stake in Daktronics by 20.3% in the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after purchasing an additional 420,161 shares in the last quarter. Finally, Progeny 3 Inc. increased its stake in Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after purchasing an additional 1,047,156 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

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.