Hennessy Advisors Inc. Invests $170,000 in Daktronics, Inc. (NASDAQ:DAKT)

Hennessy Advisors Inc. purchased a new stake in Daktronics, Inc. (NASDAQ:DAKT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,096 shares of the technology company’s stock, valued at approximately $170,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its position 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. Quarry LP raised its stake in Daktronics by 75.6% during the 3rd quarter. Quarry LP now owns 2,297 shares of the technology company’s stock worth $30,000 after acquiring an additional 989 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 1,108 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Daktronics by 10.9% during the second quarter. Rhumbline Advisers now owns 57,749 shares of the technology company’s stock worth $806,000 after purchasing an additional 5,689 shares during the last quarter. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of Daktronics during the third quarter worth about $75,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Daktronics Stock Performance

Shares of Daktronics stock opened at $16.64 on Friday. The firm’s fifty day simple moving average is $16.49 and its 200-day simple moving average is $14.67. Daktronics, Inc. has a 12 month low of $7.20 and a 12 month high of $19.89. The stock has a market capitalization of $781.91 million, a price-to-earnings ratio of 66.56, a PEG ratio of 0.56 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67.

Analyst Ratings Changes

Separately, StockNews.com raised Daktronics from a “hold” rating to a “buy” rating in a research report on Monday, October 14th.

Insider Buying and Selling at Daktronics

In related news, Director John Patrick Friel sold 2,244 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $18.17, for a total transaction of $40,773.48. Following the transaction, the director now owns 87,573 shares of the company’s stock, valued at $1,591,201.41. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Reece A. Kurtenbach sold 8,048 shares of the company’s stock in a transaction that occurred on 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 directly owns 469,727 shares of the company’s stock, valued at approximately $8,807,381.25. This represents a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by company insiders.

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.