Daktronics (NASDAQ:DAKT) Trading Down 3.4% – Here’s Why

Daktronics, Inc. (NASDAQ:DAKT)’s share price dropped 3.4% during trading on Friday . The company traded as low as $13.23 and last traded at $13.24. Approximately 175,012 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 510,069 shares. The stock had previously closed at $13.71.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday.

Daktronics Price Performance

The stock’s fifty day moving average price is $13.50 and its 200-day moving average price is $12.36. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The firm has a market cap of $627.77 million, a PE ratio of 21.72, a P/E/G ratio of 0.47 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.06. The business had revenue of $226.09 million during the quarter, compared to the consensus estimate of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. As a group, equities analysts forecast that Daktronics, Inc. will post 0.89 EPS for the current fiscal year.

Insider Activity

In other news, VP Matthew John Kurtenbach sold 3,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.03, for a total value of $45,090.00. Following the completion of the transaction, the vice president now owns 208,906 shares in the company, valued at $3,139,857.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $12.89, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew John Kurtenbach sold 3,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.03, for a total transaction of $45,090.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,872 shares of company stock worth $608,838 in the last 90 days. 8.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Daktronics

A number of large investors have recently added to or reduced their stakes in the business. Duquesne Family Office LLC grew its stake in Daktronics by 20.3% in the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after acquiring an additional 420,161 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Daktronics by 1.8% during the first quarter. Vanguard Group Inc. now owns 2,338,484 shares of the technology company’s stock valued at $23,291,000 after buying an additional 41,076 shares during the period. Progeny 3 Inc. boosted its position in Daktronics by 140.0% during the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after acquiring an additional 1,047,156 shares during the last quarter. First Bank & Trust grew its stake in Daktronics by 29.5% in the 1st quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock worth $9,932,000 after acquiring an additional 227,108 shares during the period. Finally, American Century Companies Inc. raised its holdings in Daktronics by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after acquiring an additional 187,486 shares during the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

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.