Short Interest in Daktronics, Inc. (NASDAQ:DAKT) Increases By 6.3%

Daktronics, Inc. (NASDAQ:DAKT) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,850,000 shares, an increase of 6.3% from the September 30th total of 2,680,000 shares. Based on an average trading volume of 473,700 shares, the days-to-cover ratio is presently 6.0 days. Approximately 6.9% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, VP Matthew John Kurtenbach sold 15,400 shares of Daktronics stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total transaction of $204,512.00. Following the sale, the vice president now owns 2,500 shares in the company, valued at $33,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the transaction, the executive vice president now directly owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s 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 sale, the vice president now directly owns 2,500 shares of the company’s stock, valued at $33,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Institutional Trading of Daktronics

Several large investors have recently added to or reduced their stakes in the business. Duquesne Family Office LLC lifted 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 period. Vanguard Group Inc. increased 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 purchasing an additional 41,076 shares during the period. Progeny 3 Inc. raised its stake in shares of Daktronics by 140.0% in the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after buying an additional 1,047,156 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Daktronics by 27.5% in the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after buying an additional 187,486 shares during the period. Finally, Meros Investment Management LP boosted its stake in Daktronics by 1.6% during the second quarter. Meros Investment Management LP now owns 485,811 shares of the technology company’s stock valued at $6,777,000 after buying an additional 7,885 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Singular Research upgraded Daktronics to a “strong-buy” rating in a report on Monday, September 9th. StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Stock Performance

Shares of Daktronics stock traded down $0.04 on Friday, reaching $12.99. 332,819 shares of the company were exchanged, compared to its average volume of 503,246. The firm has a market cap of $601.96 million, a price-to-earnings ratio of 162.25, a P/E/G ratio of 0.49 and a beta of 1.14. Daktronics has a 1-year low of $7.20 and a 1-year 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’s 50-day moving average is $13.15 and its two-hundred day moving average is $12.59.

Daktronics (NASDAQ:DAKT) last released 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. The business had revenue of $226.09 million for the quarter, compared to analysts’ expectations of $216.84 million. Daktronics had a net margin of 1.29% and a return on equity of 19.92%. As a group, research analysts expect that Daktronics will post 0.89 earnings per share for the current fiscal 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.