Insider Selling: Daktronics, Inc. (NASDAQ:DAKT) CEO Sells 8,048 Shares of Stock

Daktronics, Inc. (NASDAQ:DAKT) CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares of the company’s stock, valued at $8,807,381.25. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Daktronics Price Performance

Daktronics stock opened at $17.62 on Monday. The company’s 50 day simple moving average is $14.81 and its 200-day simple moving average is $13.79. 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 1 year low of $7.20 and a 1 year high of $19.89. The company has a market capitalization of $827.89 million, a price-to-earnings ratio of 70.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.19.

Hedge Funds Weigh In On Daktronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of Daktronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock worth $959,000 after purchasing an additional 654 shares in the last quarter. CWM LLC increased its stake in Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after buying an additional 872 shares during the period. Quarry LP lifted its holdings in Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after buying an additional 989 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 buying an additional 1,108 shares during the period. Finally, Anchor Capital Advisors LLC grew its stake 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 worth $2,070,000 after acquiring an additional 2,778 shares in the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DAKT. Singular Research raised shares of 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 research report on Monday, October 14th.

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.