Daktronics, Inc. (NASDAQ:DAKT) Short Interest Update

Daktronics, Inc. (NASDAQ:DAKT) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,390,000 shares, an increase of 7.8% from the December 15th total of 1,290,000 shares. Approximately 3.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 478,800 shares, the short-interest ratio is presently 2.9 days.

Analyst Ratings Changes

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

Daktronics Trading Up 0.8 %

Shares of NASDAQ DAKT traded up $0.14 during trading on Friday, hitting $16.64. 220,628 shares of the company were exchanged, compared to its average volume of 418,439. The company has a fifty day moving average price of $16.49 and a 200-day moving average price of $14.67. 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 firm has a market capitalization of $781.91 million, a PE ratio of 66.56, a P/E/G ratio of 0.56 and a beta of 1.17. Daktronics has a 12-month low of $7.20 and a 12-month high of $19.89.

Insider Buying and Selling

In related news, Director John Patrick Friel sold 2,244 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were 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 owns 87,573 shares of the company’s stock, valued at approximately $1,591,201.41. This represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $18.75, for a total transaction of $150,900.00. Following the completion of the sale, the chief executive officer now owns 469,727 shares of the company’s stock, 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. 8.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Daktronics

A number of institutional investors have recently bought and sold shares of DAKT. Progeny 3 Inc. increased its stake in Daktronics by 140.0% during 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 during the last quarter. Duquesne Family Office LLC grew its holdings 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 acquired a new stake in shares of Daktronics during the 3rd quarter worth about $4,101,000. Charles Schwab Investment Management Inc. raised its holdings in Daktronics by 76.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 451,873 shares of the technology company’s stock valued at $5,834,000 after buying an additional 195,830 shares during the period. Finally, American Century Companies Inc. raised its holdings in Daktronics by 27.5% in the 2nd 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. 61.69% of the stock is owned by hedge funds and other institutional investors.

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.