Daktronics (NASDAQ:DAKT) Trading 3.7% Higher After Insider Buying Activity

Shares of Daktronics, Inc. (NASDAQ:DAKT) rose 3.7% on Tuesday following insider buying activity. The company traded as high as $12.59 and last traded at $12.64. Approximately 102,438 shares changed hands during trading, a decline of 78% from the average daily volume of 475,258 shares. The stock had previously closed at $12.18.

Specifically, Director Andrew David Siegel purchased 7,200 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were acquired at an average price of $11.82 per share, for a total transaction of $85,104.00. Following the acquisition, the director now owns 40,946 shares of the company’s stock, valued at $483,981.72. This trade represents a 21.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Separately, Craig Hallum started coverage on shares of Daktronics in a research report on Wednesday, January 22nd. They set a “buy” rating and a $26.00 target price on the stock.

Daktronics Stock Up 4.6 %

The company has a quick ratio of 1.67, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $14.80 and a 200-day simple moving average of $14.92. The stock has a market cap of $667.04 million, a P/E ratio of 50.96, a PEG ratio of 0.57 and a beta of 1.12.

Institutional Trading of Daktronics

A number of institutional investors and hedge funds have recently modified their holdings of DAKT. Quarry LP raised its holdings in 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 acquiring an additional 989 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Daktronics by 29.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock valued at $71,000 after purchasing an additional 965 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in shares of Daktronics in the third quarter worth about $75,000. KLP Kapitalforvaltning AS acquired a new position in shares of Daktronics during the 4th quarter worth about $125,000. Finally, Knott David M Jr acquired a new position in shares of Daktronics during the 4th quarter worth about $132,000. 61.69% of the stock is currently owned by institutional investors and hedge funds.

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.