Daktronics (NASDAQ:DAKT) Downgraded by StockNews.com

StockNews.com downgraded shares of Daktronics (NASDAQ:DAKT) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Daktronics Trading Down 1.4 %

DAKT opened at $14.30 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.09 and a quick ratio of 1.37. The company’s 50 day simple moving average is $12.12 and its two-hundred day simple moving average is $9.95. Daktronics has a 1-year low of $6.46 and a 1-year high of $15.23. The firm has a market capitalization of $662.09 million, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 0.45 and a beta of 1.12.

Insiders Place Their Bets

In other Daktronics news, VP Matthew John Kurtenbach sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.94, for a total value of $134,460.00. Following the transaction, the vice president now directly owns 208,906 shares of the company’s stock, valued at approximately $3,121,055.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Bradley T. Wiemann sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $13.60, for a total transaction of $102,000.00. Following the completion of the sale, the executive vice president now owns 132,582 shares in the company, valued at approximately $1,803,115.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew John Kurtenbach sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.94, for a total transaction of $134,460.00. Following the sale, the vice president now owns 208,906 shares of the company’s stock, valued at approximately $3,121,055.64. The disclosure for this sale can be found here. Insiders have sold 43,339 shares of company stock valued at $610,456 in the last ninety days. 8.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently made changes to their positions in DAKT. Breach Inlet Capital Management LLC acquired a new stake in shares of Daktronics during the 4th quarter worth approximately $11,508,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Daktronics in the 1st quarter valued at approximately $7,482,000. Progeny 3 Inc. acquired a new stake in Daktronics in the 1st quarter valued at approximately $7,448,000. Intrinsic Edge Capital Management LLC acquired a new stake in Daktronics in the 4th quarter valued at approximately $4,240,000. Finally, Anthracite Investment Company Inc. acquired a new stake in Daktronics in the 4th quarter valued at approximately $4,069,000. Institutional investors and hedge funds own 61.69% of the company’s stock.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.