Insider Buying: Daktronics, Inc. (NASDAQ:DAKT) Director Buys $85,104.00 in Stock

Daktronics, Inc. (NASDAQ:DAKT) Director Andrew David Siegel purchased 7,200 shares of the stock in a transaction on Monday, March 31st. The shares were purchased at an average cost of $11.82 per share, with a total value of $85,104.00. Following the transaction, the director now owns 40,946 shares of the company’s stock, valued at $483,981.72. This trade represents a 21.34 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Daktronics Stock Performance

NASDAQ:DAKT opened at $13.25 on Thursday. The firm’s fifty day simple moving average is $14.63 and its 200 day simple moving average is $14.92. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a twelve month low of $8.81 and a twelve month high of $19.89. The firm has a market capitalization of $693.47 million, a price-to-earnings ratio of 53.00, a PEG ratio of 0.57 and a beta of 1.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Daktronics by 133.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,411 shares of the technology company’s stock valued at $1,305,000 after buying an additional 44,307 shares during the period. Union Square Park Capital Management LLC purchased a new stake in shares of Daktronics during the fourth quarter valued at approximately $1,096,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Daktronics during the fourth quarter worth $330,000. ProShare Advisors LLC purchased a new position in shares of Daktronics in the fourth quarter valued at $190,000. Finally, Progeny 3 Inc. grew its holdings in Daktronics by 4.7% during the 4th quarter. Progeny 3 Inc. now owns 2,391,008 shares of the technology company’s stock valued at $40,312,000 after purchasing an additional 106,400 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.