Hennessy Advisors Inc. Acquires New Position in Daktronics, Inc. (NASDAQ:DAKT)

Hennessy Advisors Inc. bought a new position in shares of Daktronics, Inc. (NASDAQ:DAKT) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,096 shares of the technology company’s stock, valued at approximately $170,000.

A number of other large investors have also modified their holdings of the business. Progeny 3 Inc. raised its position in Daktronics by 140.0% in the second quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock worth $25,039,000 after acquiring an additional 1,047,156 shares in the last quarter. Duquesne Family Office LLC grew its stake in shares of Daktronics by 20.3% during the 2nd quarter. Duquesne Family Office LLC now owns 2,493,605 shares of the technology company’s stock worth $34,786,000 after purchasing an additional 420,161 shares during the period. Foundry Partners LLC purchased a new position in shares of Daktronics in the 3rd quarter valued at about $4,101,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Daktronics by 76.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock valued at $5,834,000 after purchasing an additional 195,830 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Daktronics by 27.5% during the second quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock worth $12,134,000 after buying an additional 187,486 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the completion of the transaction, the director now directly owns 87,573 shares in the company, valued at $1,591,201.41. The trade was a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total value of $150,900.00. Following the completion of the sale, the chief executive officer now directly owns 469,727 shares in the company, valued at approximately $8,807,381.25. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Daktronics from a “hold” rating to a “buy” rating in a report on Monday, October 14th.

Daktronics Stock Up 0.8 %

DAKT opened at $16.64 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The company has a market cap of $781.91 million, a price-to-earnings ratio of 66.56, a PEG ratio of 0.56 and a beta of 1.17. Daktronics, Inc. has a one year low of $7.20 and a one year high of $19.89. The business’s fifty day moving average is $16.49 and its two-hundred day moving average is $14.67.

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.