Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Decreases By 5.6%

Daktronics, Inc. (NASDAQ:DAKT) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,680,000 shares, a decline of 5.6% from the September 15th total of 2,840,000 shares. Approximately 6.5% of the company’s stock are short sold. Based on an average daily volume of 524,100 shares, the short-interest ratio is presently 5.1 days.

Insider Activity at Daktronics

In related news, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction on 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 sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at approximately $1,101,398.94. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Matthew John Kurtenbach sold 2,000 shares of Daktronics stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $14.96, for a total value of $29,920.00. Following the transaction, the vice president now owns 208,906 shares in the company, valued at $3,125,233.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bradley T. Wiemann sold 25,000 shares of Daktronics stock in a transaction on Friday, September 27th. The stock was sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the transaction, the executive vice president now owns 85,446 shares in the company, valued at $1,101,398.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,872 shares of company stock valued at $608,838. Insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DAKT. SG Americas Securities LLC bought a new stake in Daktronics in the third quarter valued at about $188,000. Northwestern Mutual Wealth Management Co. increased its stake in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after acquiring an additional 1,108 shares during the period. Meros Investment Management LP increased its stake in Daktronics by 1.6% in the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after acquiring an additional 7,885 shares during the period. Duquesne Family Office LLC increased its stake in Daktronics by 20.3% in the second quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock valued at $34,786,000 after acquiring an additional 420,161 shares during the period. Finally, Progeny 3 Inc. increased its stake in Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares during the period. Institutional investors own 61.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DAKT. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a report on Monday, September 9th.

Daktronics Stock Performance

NASDAQ:DAKT opened at $13.62 on Thursday. The firm’s 50-day moving average is $13.51 and its 200-day moving average is $12.35. Daktronics has a 52-week low of $7.20 and a 52-week high of $15.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.48 and a current ratio of 2.17. The company has a market cap of $630.55 million, a price-to-earnings ratio of 22.33, a PEG ratio of 0.47 and a beta of 1.14.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping 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 company had revenue of $226.09 million for the quarter, compared to the consensus estimate of $216.84 million. Equities research analysts anticipate that Daktronics will post 0.89 earnings per share for the current year.

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.