Daktronics (NASDAQ:DAKT) Trading Down 3.4% – Should You Sell?

Daktronics, Inc. (NASDAQ:DAKT) dropped 3.4% during mid-day trading on Monday . The company traded as low as $18.54 and last traded at $18.84. Approximately 130,208 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 503,455 shares. The stock had previously closed at $19.50.

Analyst Ratings Changes

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

Daktronics Stock Down 7.6 %

The business has a fifty day moving average of $14.30 and a 200 day moving average of $13.55. The stock has a market cap of $846.76 million, a price-to-earnings ratio of 78.00, a P/E/G ratio of 0.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67.

Insider Buying and Selling

In other Daktronics news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 85,446 shares in the company, valued at $1,101,398.94. This trade represents a 22.64 % decrease in their ownership of the stock. 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 stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $13.28, for a total value of $204,512.00. Following the transaction, the vice president now owns 2,500 shares in the company, valued at approximately $33,200. This trade represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Daktronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in Daktronics by 0.9% during the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after purchasing an additional 654 shares during the last quarter. CWM LLC grew its stake in shares of Daktronics by 31.4% in the second quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after acquiring an additional 872 shares during the last quarter. Quarry LP grew its stake in shares of Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock worth $32,000 after acquiring an additional 1,108 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its stake in shares of Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock worth $2,070,000 after acquiring an additional 2,778 shares during the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

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.