Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Declines By 7.9%

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 1,740,000 shares, a decline of 7.9% from the November 15th total of 1,890,000 shares. Approximately 4.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 480,800 shares, the short-interest ratio is presently 3.6 days.

Daktronics Trading Up 2.5 %

Shares of DAKT opened at $17.65 on Wednesday. The stock has a market capitalization of $829.30 million, a P/E ratio of 70.60, a PEG ratio of 0.72 and a beta of 1.19. The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $13.88. Daktronics has a twelve month low of $7.20 and a twelve month high of $19.89.

Analyst Upgrades and Downgrades

DAKT has been the subject of a number of research reports. Singular Research raised 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 research note on Monday, October 14th.

Insiders Place Their Bets

In other news, Director John Patrick Friel sold 2,244 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $18.17, for a total value of $40,773.48. Following the completion of the sale, the director now owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares of the company’s stock, valued at $8,807,381.25. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,692 shares of company stock valued at $718,435 in the last quarter. Corporate insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Daktronics

Several institutional investors have recently added to or reduced their stakes in DAKT. Progeny 3 Inc. boosted its position in Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after buying an additional 1,047,156 shares during the period. Duquesne Family Office LLC raised its holdings 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 worth $34,786,000 after purchasing an additional 420,161 shares in the last quarter. Foundry Partners LLC bought a new position in Daktronics in the 3rd quarter worth $4,101,000. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock worth $5,834,000 after purchasing an additional 195,830 shares in the last quarter. 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 worth $12,134,000 after purchasing an additional 187,486 shares in the last quarter. Hedge funds and other institutional investors own 61.69% of the company’s stock.

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.