PEAK6 Investments LLC Acquires 30,699 Shares of Daktronics, Inc. (NASDAQ:DAKT)

PEAK6 Investments LLC boosted its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 269.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,073 shares of the technology company’s stock after purchasing an additional 30,699 shares during the quarter. PEAK6 Investments LLC’s holdings in Daktronics were worth $543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Daktronics by 92.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after buying an additional 1,108 shares during the last quarter. CWM LLC boosted its holdings in Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after acquiring an additional 872 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Daktronics by 150.0% in the second quarter. Hexagon Capital Partners LLC now owns 4,000 shares of the technology company’s stock worth $56,000 after acquiring an additional 2,400 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Daktronics during the first quarter valued at $109,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Daktronics in the 3rd quarter worth about $164,000. Institutional investors own 61.69% of the company’s stock.

Insider Activity

In related news, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total value of $204,512.00. Following the completion of the sale, the vice president now owns 2,500 shares of the company’s stock, valued at $33,200. The trade was a 86.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the transaction, the executive vice president now directly owns 85,446 shares in the company, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on DAKT. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Daktronics Trading Up 2.1 %

Shares of NASDAQ:DAKT opened at $16.33 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.17 and a quick ratio of 1.48. Daktronics, Inc. has a 1 year low of $7.20 and a 1 year high of $16.49. The company has a market cap of $756.73 million, a P/E ratio of 204.13, a PEG ratio of 0.60 and a beta of 1.19. The stock’s fifty day moving average price is $13.83 and its 200-day moving average price is $13.34.

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

Daktronics 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.