Meros Investment Management LP Decreases Stock Holdings in Daktronics, Inc. (NASDAQ:DAKT)

Meros Investment Management LP reduced its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 43.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,853 shares of the technology company’s stock after selling 210,958 shares during the quarter. Daktronics makes up 1.6% of Meros Investment Management LP’s holdings, making the stock its 28th largest position. Meros Investment Management LP owned 0.59% of Daktronics worth $3,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of Daktronics by 31.4% during the 2nd quarter. CWM LLC now owns 3,646 shares of the technology company’s stock worth $51,000 after purchasing an additional 872 shares during the last quarter. Quarry LP raised 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 buying an additional 989 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Daktronics by 92.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,309 shares of the technology company’s stock valued at $32,000 after buying an additional 1,108 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in Daktronics by 1.9% in the second quarter. Anchor Capital Advisors LLC now owns 148,387 shares of the technology company’s stock valued at $2,070,000 after buying an additional 2,778 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Daktronics by 10.9% in the second quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock valued at $806,000 after buying an additional 5,689 shares during the last quarter. 61.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com upgraded Daktronics from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. Singular Research upgraded Daktronics to a “strong-buy” rating in a research note on Monday, September 9th.

Insider Activity

In related news, VP Matthew John Kurtenbach sold 15,400 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $13.28, for a total transaction of $204,512.00. Following the sale, the vice president now directly owns 2,500 shares of the company’s stock, valued at $33,200. This trade represents a 86.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradley T. Wiemann sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $12.89, for a total value of $322,250.00. Following the sale, the executive vice president now directly owns 85,446 shares in the company, valued at approximately $1,101,398.94. This trade represents a 22.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

Daktronics Stock Up 5.3 %

Shares of DAKT stock opened at $19.24 on Wednesday. The stock’s 50-day simple moving average is $14.53 and its 200-day simple moving average is $13.65. 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 capitalization of $904.01 million, a PE ratio of 76.96, a P/E/G ratio of 0.73 and a beta of 1.19. Daktronics, Inc. has a fifty-two week low of $7.20 and a fifty-two week 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.