Insider Buying: Daktronics, Inc. (NASDAQ:DAKT) Director Buys 7,200 Shares of Stock

Daktronics, Inc. (NASDAQ:DAKT) Director Andrew David Siegel bought 7,200 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the purchase, the director now directly owns 40,946 shares in the company, valued at $483,981.72. This trade represents a 21.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Daktronics Trading Up 1.2 %

Shares of Daktronics stock opened at $12.18 on Tuesday. Daktronics, Inc. has a twelve month low of $8.81 and a twelve month high of $19.89. 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 business has a 50-day moving average price of $14.80 and a 200-day moving average price of $14.92. The firm has a market cap of $637.46 million, a price-to-earnings ratio of 48.72, a PEG ratio of 0.57 and a beta of 1.12.

Hedge Funds Weigh In On Daktronics

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Daktronics by 29.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock worth $71,000 after purchasing an additional 965 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in Daktronics during the third quarter valued at $75,000. KLP Kapitalforvaltning AS purchased a new stake in Daktronics during the fourth quarter valued at $125,000. Finally, Knott David M Jr bought a new position in Daktronics during the fourth quarter valued at $132,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum assumed coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 price objective on the stock.

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.