First Bank & Trust Sells 79,965 Shares of Daktronics, Inc. (NASDAQ:DAKT)

First Bank & Trust reduced its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 801,307 shares of the technology company’s stock after selling 79,965 shares during the quarter. Daktronics comprises approximately 2.6% of First Bank & Trust’s portfolio, making the stock its 7th largest holding. First Bank & Trust’s holdings in Daktronics were worth $13,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Money Concepts Capital Corp raised its stake in Daktronics by 0.4% during the 4th quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company’s stock worth $2,541,000 after acquiring an additional 607 shares in the last quarter. Franklin Resources Inc. increased its stake in Daktronics by 0.9% in the third quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock valued at $959,000 after purchasing an additional 654 shares during the period. Quarry LP increased its stake in Daktronics by 75.6% in the third quarter. Quarry LP now owns 2,297 shares of the technology company’s stock valued at $30,000 after purchasing an additional 989 shares during the period. Principal Financial Group Inc. increased its stake in Daktronics by 8.5% in the fourth 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 period. Finally, Rhumbline Advisers increased its stake in Daktronics by 3.3% in the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company’s stock valued at $994,000 after purchasing an additional 1,889 shares during the period. 61.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on shares of Daktronics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price objective on the stock.

Insider Activity

In other news, 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 value of $150,900.00. Following the sale, the chief executive officer now owns 469,727 shares of the company’s stock, valued at $8,807,381.25. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Patrick Friel sold 2,244 shares of Daktronics stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $18.17, for a total transaction of $40,773.48. Following the completion of the sale, the director now directly owns 87,573 shares in the company, valued at approximately $1,591,201.41. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Daktronics Trading Up 1.3 %

NASDAQ DAKT opened at $16.59 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. The firm has a market cap of $780.99 million, a PE ratio of 66.34, a P/E/G ratio of 0.56 and a beta of 1.16. Daktronics, Inc. has a one year low of $7.38 and a one year high of $19.89. The firm’s fifty day moving average is $16.70 and its two-hundred day moving average is $15.04.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings data on Wednesday, December 4th. The technology company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.09). Daktronics had a net margin of 3.62% and a return on equity of 19.61%. Analysts expect that Daktronics, Inc. will post 0.96 earnings per share for the current year.

Daktronics 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.