Daktronics (DAKT) Downgraded by BidaskClub
Daktronics (NASDAQ:DAKT) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Daktronics from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. TheStreet upgraded shares of Daktronics from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.83.
Shares of Daktronics (NASDAQ DAKT) traded down $0.09 during trading on Wednesday, reaching $9.04. 122,630 shares of the company’s stock traded hands, compared to its average volume of 113,065. Daktronics has a twelve month low of $7.84 and a twelve month high of $11.12. The company has a quick ratio of 1.53, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $402.04, a PE ratio of 36.16 and a beta of 1.22.
In other news, insider Carla S. Gatzke sold 2,996 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $10.27, for a total value of $30,768.92. Following the completion of the transaction, the insider now directly owns 435,063 shares in the company, valued at approximately $4,468,097.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Mulligan sold 37,307 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $13.20, for a total transaction of $492,452.40. Following the completion of the transaction, the director now owns 67,182 shares of the company’s stock, valued at $886,802.40. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in DAKT. Capital Investment Advisory Services LLC acquired a new position in Daktronics during the 3rd quarter worth approximately $107,000. UBS Asset Management Americas Inc. increased its position in Daktronics by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,084 shares of the technology company’s stock worth $116,000 after purchasing an additional 64 shares in the last quarter. Stevens Capital Management LP acquired a new position in Daktronics during the 3rd quarter worth approximately $120,000. Arrowstreet Capital Limited Partnership acquired a new position in Daktronics during the 2nd quarter worth approximately $123,000. Finally, BNP Paribas Arbitrage SA increased its position in Daktronics by 44.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,417 shares of the technology company’s stock worth $129,000 after purchasing an additional 4,130 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.
Daktronics, Inc is a supplier of electronic scoreboards, electronic display systems, digital messaging solutions, software and services for sporting, commercial and transportation applications. The Company operates through five segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International.
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