Globeflex Capital L P Reduces Stock Position in Daktronics, Inc. (NASDAQ:DAKT)

Globeflex Capital L P cut its stake in Daktronics, Inc. (NASDAQ:DAKT) by 16.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 97,502 shares of the technology company’s stock after selling 18,839 shares during the quarter. Globeflex Capital L P’s holdings in Daktronics were worth $1,644,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DAKT. Money Concepts Capital Corp lifted its holdings in Daktronics by 0.4% in the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company’s stock valued at $2,541,000 after acquiring an additional 607 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Daktronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after acquiring an additional 654 shares during the last quarter. Quarry LP lifted its holdings in Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after acquiring an additional 989 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Daktronics by 8.5% during the fourth quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company’s stock worth $378,000 after purchasing an additional 1,765 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Daktronics by 3.3% during the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company’s stock worth $994,000 after purchasing an additional 1,889 shares in the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on Daktronics in a research note on Wednesday, January 22nd. They set a “buy” rating and a $26.00 price target on the stock.

Daktronics Stock Up 4.3 %

Daktronics stock opened at $12.72 on Friday. Daktronics, Inc. has a twelve month low of $8.81 and a twelve month high of $19.89. The stock’s fifty day simple moving average is $15.65 and its 200-day simple moving average is $14.95. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $634.64 million, a P/E ratio of 50.88, a P/E/G ratio of 0.57 and a beta of 1.12.

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.