Daktronics, Inc. (NASDAQ:DAKT) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,992 shares of the technology company’s stock after acquiring an additional 654 shares during the period. Franklin Resources Inc.’s holdings in Daktronics were worth $959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DAKT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Daktronics in the third quarter worth about $427,000. FMR LLC grew its position in shares of Daktronics by 5,451.9% in the 3rd quarter. FMR LLC now owns 48,690 shares of the technology company’s stock worth $629,000 after acquiring an additional 47,813 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Daktronics in the 3rd quarter valued at approximately $4,101,000. Progeny 3 Inc. raised its position in shares of Daktronics by 140.0% during the 2nd quarter. Progeny 3 Inc. now owns 1,794,908 shares of the technology company’s stock valued at $25,039,000 after acquiring an additional 1,047,156 shares in the last quarter. Finally, PEAK6 Investments LLC lifted its stake in Daktronics by 269.9% during the third quarter. PEAK6 Investments LLC now owns 42,073 shares of the technology company’s stock worth $543,000 after purchasing an additional 30,699 shares during the last quarter. Institutional investors own 61.69% of the company’s stock.

Insider Buying and Selling at Daktronics

In related news, Director John Patrick Friel sold 2,244 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $18.17, for a total value of $40,773.48. Following the sale, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. This trade represents a 2.50 % decrease in their position. The transaction 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 Daktronics 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 in the company, valued at approximately $8,807,381.25. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,692 shares of company stock worth $396,185. 8.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research upgraded shares of Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Daktronics Trading Down 2.1 %

NASDAQ:DAKT opened at $16.95 on Friday. The firm has a market capitalization of $796.41 million, a P/E ratio of 67.80, a P/E/G ratio of 0.72 and a beta of 1.19. The business has a 50 day simple moving average of $15.56 and a 200 day simple moving average of $14.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. Daktronics, Inc. has a 12-month low of $7.20 and a 12-month high of $19.89.

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.