Breach Inlet Capital Management LLC Lowers Stake in Daktronics, Inc. (NASDAQ:DAKT)

Breach Inlet Capital Management LLC decreased its holdings in shares of Daktronics, Inc. (NASDAQ:DAKT) by 27.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 907,314 shares of the technology company’s stock after selling 339,571 shares during the period. Daktronics comprises 10.8% of Breach Inlet Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Breach Inlet Capital Management LLC owned about 1.93% of Daktronics worth $15,297,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its stake in Daktronics by 8.6% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 47,430 shares of the technology company’s stock worth $800,000 after buying an additional 3,745 shares during the last quarter. Integrated Quantitative Investments LLC acquired a new position in shares of Daktronics in the 4th quarter worth approximately $371,000. Foundry Partners LLC increased its holdings in Daktronics by 54.0% during the 4th quarter. Foundry Partners LLC now owns 489,087 shares of the technology company’s stock valued at $8,246,000 after purchasing an additional 171,455 shares in the last quarter. Knott David M Jr bought a new position in Daktronics in the 4th quarter valued at $132,000. Finally, Geode Capital Management LLC boosted its stake in Daktronics by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 939,809 shares of the technology company’s stock worth $15,849,000 after purchasing an additional 27,672 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Price Performance

DAKT opened at $11.61 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67. The stock has a market capitalization of $607.63 million, a P/E ratio of 46.44, a price-to-earnings-growth ratio of 0.57 and a beta of 1.34. The company’s 50 day simple moving average is $14.41 and its 200-day simple moving average is $14.89. Daktronics, Inc. has a one year low of $8.81 and a one year high of $19.89.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Daktronics news, Director Andrew David Siegel bought 7,200 shares of the business’s stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $11.82 per share, for a total transaction of $85,104.00. Following the transaction, the director now owns 40,946 shares in the company, valued at approximately $483,981.72. This trade represents a 21.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.50% of the company’s stock.

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.