Kovack Advisors Inc. Buys 72,900 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Kovack Advisors Inc. boosted its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 22.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 393,100 shares of the technology company’s stock after purchasing an additional 72,900 shares during the period. Kovack Advisors Inc.’s holdings in Daktronics were worth $3,915,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in Daktronics by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,451,404 shares of the technology company’s stock valued at $20,788,000 after purchasing an additional 305,597 shares during the period. Vanguard Group Inc. lifted its position in Daktronics by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,154,605 shares of the technology company’s stock valued at $19,219,000 after purchasing an additional 11,194 shares during the period. Breach Inlet Capital Management LLC bought a new position in Daktronics during the fourth quarter valued at approximately $11,508,000. First Bank & Trust lifted its position in Daktronics by 29.5% during the first quarter. First Bank & Trust now owns 997,216 shares of the technology company’s stock valued at $9,932,000 after purchasing an additional 227,108 shares during the period. Finally, Invesco Ltd. lifted its position in Daktronics by 21.0% during the third quarter. Invesco Ltd. now owns 761,239 shares of the technology company’s stock valued at $6,790,000 after purchasing an additional 132,223 shares during the period. Institutional investors own 61.69% of the company’s stock.

Insider Buying and Selling at Daktronics

In other Daktronics news, CEO Reece A. Kurtenbach sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $13.87, for a total transaction of $208,050.00. Following the completion of the sale, the chief executive officer now directly owns 457,963 shares of the company’s stock, valued at $6,351,946.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 8.30% of the stock is owned by corporate insiders.

Daktronics Stock Performance

DAKT stock traded up $0.30 during midday trading on Thursday, reaching $13.45. 402,071 shares of the company’s stock traded hands, compared to its average volume of 635,802. Daktronics, Inc. has a 52-week low of $5.99 and a 52-week high of $14.58. The stock has a market cap of $622.74 million, a P/E ratio of 22.05, a PEG ratio of 0.39 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 1.37 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $11.26 and its 200 day moving average is $9.54.

Daktronics Company Profile

Daktronics, Inc designs, manufactures, and markets electronic display systems and related products 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.