Virtus Fund Advisers LLC Invests $75,000 in Daktronics, Inc. (NASDAQ:DAKT)

Virtus Fund Advisers LLC acquired a new stake in shares of Daktronics, Inc. (NASDAQ:DAKT) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,834 shares of the technology company’s stock, valued at approximately $75,000.

A number of other hedge funds also recently bought and sold shares of DAKT. Duquesne Family Office LLC increased its stake in shares of 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 acquiring an additional 420,161 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 41,076 shares during the last quarter. Progeny 3 Inc. grew its holdings in shares of Daktronics by 27.3% in the third quarter. Progeny 3 Inc. now owns 2,284,608 shares of the technology company’s stock valued at $29,494,000 after purchasing an additional 489,700 shares during the period. American Century Companies Inc. increased its position in Daktronics by 27.5% during the second 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 during the last quarter. Finally, Meros Investment Management LP increased its position in Daktronics by 1.6% during the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock worth $6,777,000 after purchasing an additional 7,885 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analyst Ratings Changes

DAKT has been the topic of a number of recent analyst reports. Singular Research upgraded Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Daktronics Trading Up 1.5 %

Shares of DAKT stock opened at $19.21 on Friday. The company has a 50-day moving average of $14.17 and a two-hundred day moving average of $13.46. The firm has a market cap of $890.23 million, a PE ratio of 76.84, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. Daktronics, Inc. has a 1-year low of $7.20 and a 1-year high of $19.82. 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 (NASDAQ:DAKT) last posted its quarterly earnings data 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. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. The firm had revenue of $226.09 million during the quarter, compared to analysts’ expectations of $216.84 million. On average, analysts predict that Daktronics, Inc. will post 0.89 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now owns 2,500 shares of the company’s stock, valued at $33,200. This represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

About Daktronics

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.