Insider Selling: Daktronics (NASDAQ:DAKT) EVP Sells $76,880.00 in Stock

Daktronics, Inc. (NASDAQ:DAKT) EVP Bradley Wiemann sold 4,000 shares of the stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of $19.22, for a total value of $76,880.00. Following the sale, the executive vice president directly owned 125,946 shares of the company’s stock, valued at approximately $2,420,682.12. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Daktronics Price Performance

Shares of NASDAQ DAKT opened at $19.48 on Friday. The company has a fifty day moving average price of $19.95 and a 200 day moving average price of $21.15. The firm has a market cap of $940.59 million, a PE ratio of 21.41, a PEG ratio of 0.65 and a beta of 1.67. The company has a current ratio of 2.31, a quick ratio of 1.74 and a debt-to-equity ratio of 0.18. Daktronics, Inc. has a 1-year low of $15.59 and a 1-year high of $28.27.

Daktronics (NASDAQ:DAKT) last released its quarterly earnings results on Wednesday, June 24th. The technology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $208.61 million for the quarter, compared to the consensus estimate of $205.27 million. Daktronics had a return on equity of 17.62% and a net margin of 5.41%.During the same quarter last year, the business posted ($0.19) EPS. Research analysts predict that Daktronics, Inc. will post 1.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DAKT. Duquesne Family Office LLC boosted its holdings in shares of Daktronics by 0.3% in the 2nd quarter. Duquesne Family Office LLC now owns 3,076,224 shares of the technology company’s stock valued at $46,513,000 after buying an additional 8,599 shares during the last quarter. Progeny 3 Inc. raised its position in Daktronics by 3.6% during the third quarter. Progeny 3 Inc. now owns 2,746,408 shares of the technology company’s stock worth $57,455,000 after acquiring an additional 96,371 shares in the last quarter. Breach Inlet Capital Management LLC lifted its stake in Daktronics by 32.8% in the fourth quarter. Breach Inlet Capital Management LLC now owns 1,272,552 shares of the technology company’s stock valued at $25,158,000 after acquiring an additional 314,133 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Daktronics by 13.1% in the first quarter. Renaissance Technologies LLC now owns 822,854 shares of the technology company’s stock valued at $16,087,000 after acquiring an additional 95,393 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Daktronics by 399.2% in the 2nd quarter. Invesco Ltd. now owns 510,243 shares of the technology company’s stock valued at $7,715,000 after acquiring an additional 408,037 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DAKT shares. Weiss Ratings raised shares of Daktronics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 25th. Zacks Research upgraded shares of Daktronics from a “strong sell” rating to a “hold” rating in a report on Monday, June 15th. Roth Capital raised their target price on shares of Daktronics from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Finally, Wall Street Zen lowered shares of Daktronics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 4th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Daktronics currently has a consensus rating of “Hold” and a consensus target price of $29.00.

Daktronics Company Profile

Daktronics, Inc (NASDAQ: DAKT) is a leading designer and manufacturer of electronic display systems, video boards, scoreboards and related control systems. Founded in 1968 in Brookings, South Dakota by Al Kurtenbach and Duane Sander, the company has built a reputation for delivering custom visual display solutions to a wide range of markets. Its product portfolio includes large-format LED video displays, programmable message centers, digital billboards, and audio-visual solutions tailored to sports venues, transportation authorities, retail environments and live event producers.

The company’s primary business activities encompass the engineering, fabrication and installation of display systems for customers around the world.