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

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

Wall Street Analysts Forecast Growth

DAKT has been the topic of several research reports. Singular Research raised Daktronics to a “strong-buy” rating in a research report on Monday, September 9th. StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a report on Monday.

Insider Activity

In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Matthew John Kurtenbach sold 3,000 shares of Daktronics stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.03, for a total transaction of $45,090.00. Following the completion of the transaction, the vice president now directly owns 208,906 shares in the company, valued at approximately $3,139,857.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at approximately $1,101,398.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,872 shares of company stock valued at $608,838. 8.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Daktronics

A number of hedge funds have recently modified their holdings of the stock. Duquesne Family Office LLC boosted its stake in Daktronics by 20.3% during 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 buying an additional 420,161 shares during the period. Vanguard Group Inc. increased its holdings in Daktronics by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after purchasing an additional 41,076 shares during the period. Progeny 3 Inc. raised its holdings in shares of Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares in the last quarter. First Bank & Trust boosted its position in Daktronics by 29.5% during the 1st quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock valued at $9,932,000 after acquiring an additional 227,108 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after acquiring an additional 187,486 shares in the last quarter. Institutional investors own 61.69% of the company’s stock.

Daktronics Stock Up 0.8 %

Shares of Daktronics stock opened at $13.62 on Wednesday. The firm has a market cap of $630.55 million, a price-to-earnings ratio of 22.33, a PEG ratio of 0.47 and a beta of 1.14. Daktronics has a one year low of $7.20 and a one year high of $15.97. 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 stock’s 50-day moving average is $13.50 and its 200 day moving average is $12.34.

Daktronics (NASDAQ:DAKT) last posted its 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 company had revenue of $226.09 million for the quarter, compared to analyst estimates of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. Equities research analysts anticipate that Daktronics will post 0.89 EPS for the current year.

Daktronics Company Profile

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.