Stifel Financial Corp Raises Stake in Daktronics, Inc. (NASDAQ:DAKT)

Stifel Financial Corp lifted its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 35.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,919 shares of the technology company’s stock after acquiring an additional 25,530 shares during the period. Stifel Financial Corp’s holdings in Daktronics were worth $1,651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DAKT. Money Concepts Capital Corp raised its stake in Daktronics by 0.4% during the fourth quarter. Money Concepts Capital Corp now owns 150,724 shares of the technology company’s stock worth $2,541,000 after purchasing an additional 607 shares during the period. Franklin Resources Inc. increased its holdings in shares of Daktronics by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 70,992 shares of the technology company’s stock worth $959,000 after buying an additional 654 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Daktronics by 29.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock valued at $71,000 after buying an additional 965 shares during the period. Principal Financial Group Inc. lifted its holdings 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 acquiring an additional 1,765 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Daktronics by 3.3% in the fourth quarter. Rhumbline Advisers now owns 58,951 shares of the technology company’s stock worth $994,000 after acquiring an additional 1,889 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Daktronics

In other news, Director Andrew David Siegel bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $11.50 per share, with a total value of $28,750.00. Following the purchase, the director now owns 43,446 shares in the company, valued at approximately $499,629. The trade was a 6.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is owned by insiders.

Daktronics Price Performance

Shares of DAKT opened at $13.59 on Wednesday. The firm has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $14.81. The stock has a market cap of $711.10 million, a PE ratio of 54.35, a P/E/G ratio of 0.57 and a beta of 1.56. Daktronics, Inc. has a 1-year low of $10.24 and a 1-year high of $19.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67.

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.