Daktronics, Inc. (NASDAQ:DAKT) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 35.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,635 shares of the technology company’s stock after selling 32,265 shares during the quarter. Kovack Advisors Inc. owned 0.12% of Daktronics worth $972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP raised its holdings in shares of Daktronics by 75.6% in the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after purchasing an additional 989 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in shares of Daktronics in the third quarter valued at $75,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Daktronics during the 3rd quarter valued at $164,000. Hennessy Advisors Inc. bought a new stake in shares of Daktronics during the 4th quarter worth $170,000. Finally, Atria Investments Inc acquired a new position in shares of Daktronics in the 3rd quarter worth $171,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Stock Performance

DAKT stock opened at $15.31 on Friday. The firm has a 50 day simple moving average of $16.51 and a 200 day simple moving average of $15.11. Daktronics, Inc. has a 52 week low of $7.38 and a 52 week high of $19.89. The stock has a market cap of $720.96 million, a P/E ratio of 61.24, a P/E/G ratio of 0.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35.

Daktronics (NASDAQ:DAKT) last issued its earnings results on Wednesday, December 4th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. Research analysts anticipate that Daktronics, Inc. will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 8,048 shares of Daktronics 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 $8,807,381.25. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Patrick Friel sold 2,244 shares of the business’s 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 sale, the director now directly owns 87,573 shares of the company’s stock, valued at $1,591,201.41. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on Daktronics in a research report on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price target for the company.

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.