SummerHaven Investment Management LLC Buys 876 Shares of Daktronics, Inc. (NASDAQ:DAKT)

SummerHaven Investment Management LLC raised its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 1.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 56,355 shares of the technology company’s stock after buying an additional 876 shares during the period. SummerHaven Investment Management LLC’s holdings in Daktronics were worth $686,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DAKT. Empowered Funds LLC lifted its position in Daktronics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 237,609 shares of the technology company’s stock valued at $4,006,000 after acquiring an additional 11,539 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Daktronics by 3.3% during the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company’s stock valued at $994,000 after acquiring an additional 1,889 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Daktronics by 8.5% in the 4th quarter. Principal Financial Group Inc. now owns 22,413 shares of the technology company’s stock valued at $378,000 after purchasing an additional 1,765 shares during the last quarter. Anchor Capital Advisors LLC raised its position in shares of Daktronics by 60.2% in the 4th quarter. Anchor Capital Advisors LLC now owns 171,346 shares of the technology company’s stock valued at $2,889,000 after purchasing an additional 64,360 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in Daktronics by 17.0% in the 4th quarter. Atria Investments Inc now owns 15,508 shares of the technology company’s stock worth $261,000 after purchasing an additional 2,252 shares in the last quarter. 61.69% of the stock is owned by hedge funds and other institutional investors.

Daktronics Stock Down 0.1%

NASDAQ:DAKT opened at $14.26 on Thursday. The company’s 50 day moving average is $13.59 and its two-hundred day moving average is $14.92. The company has a market cap of $711.47 million, a PE ratio of 57.04, a P/E/G ratio of 0.57 and a beta of 1.62. Daktronics, Inc. has a twelve month low of $10.24 and a twelve month high of $19.89. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40.

Insider Buying and Selling

In related news, Director Andrew David Siegel purchased 2,500 shares of Daktronics stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $11.50 per share, for a total transaction of $28,750.00. Following the completion of the transaction, the director now owns 43,446 shares in the company, valued at $499,629. The trade was a 6.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the business’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the completion of the transaction, the insider now owns 4,973,599 shares of the company’s stock, valued at approximately $74,106,625.10. This represents a 16.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

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.