Walleye Capital LLC Lowers Position in Daktronics, Inc. (NASDAQ:DAKT)

Walleye Capital LLC cut its stake in Daktronics, Inc. (NASDAQ:DAKT) by 45.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,194 shares of the technology company’s stock after selling 8,630 shares during the quarter. Walleye Capital LLC’s holdings in Daktronics were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Progeny 3 Inc. lifted its position in shares of 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 in the last quarter. Duquesne Family Office LLC grew its stake in shares of Daktronics by 20.3% in the second 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 last quarter. Foundry Partners LLC bought a new stake in shares of Daktronics in the third quarter worth about $4,101,000. Charles Schwab Investment Management Inc. boosted its position in Daktronics by 76.5% during 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 acquiring an additional 195,830 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Daktronics by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 869,837 shares of the technology company’s stock valued at $12,134,000 after acquiring an additional 187,486 shares in the last quarter. 61.69% of the stock is owned by institutional investors.

Daktronics Stock Down 2.9 %

Shares of NASDAQ DAKT opened at $18.69 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 12-month low of $7.20 and a 12-month high of $19.89. The stock has a market capitalization of $878.17 million, a price-to-earnings ratio of 74.76, a P/E/G ratio of 0.73 and a beta of 1.19. The firm’s 50-day moving average price is $14.64 and its 200-day moving average price is $13.69.

Insiders Place Their Bets

In related news, EVP Bradley T. Wiemann sold 25,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $12.89, for a total transaction of $322,250.00. Following the completion of the sale, the executive vice president now owns 85,446 shares of the company’s stock, valued at $1,101,398.94. This represents a 22.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the completion of the transaction, the vice president now directly owns 2,500 shares of the company’s stock, valued at approximately $33,200. This represents a 86.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DAKT shares. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a 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 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.