Renaissance Technologies LLC Boosts Stake in Daktronics, Inc. (NASDAQ:DAKT)

Renaissance Technologies LLC grew its stake in shares of Daktronics, Inc. (NASDAQ:DAKT) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 570,061 shares of the technology company’s stock after acquiring an additional 50,148 shares during the quarter. Renaissance Technologies LLC’s holdings in Daktronics were worth $9,611,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Daktronics during the fourth quarter valued at $125,000. Knott David M Jr purchased a new position in Daktronics in the 4th quarter valued at about $132,000. Retirement Solution LLC acquired a new stake in shares of Daktronics during the 4th quarter worth about $169,000. Fox Run Management L.L.C. purchased a new stake in shares of Daktronics during the fourth quarter worth about $169,000. Finally, Hennessy Advisors Inc. acquired a new position in shares of Daktronics in the fourth quarter valued at approximately $170,000. 61.69% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Daktronics

In related news, Director Andrew David Siegel acquired 2,500 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $11.50 per share, with a total value of $28,750.00. Following the purchase, the director now directly owns 43,446 shares of the company’s stock, valued at approximately $499,629. This represents a 6.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Daktronics Stock Performance

Daktronics stock opened at $12.36 on Thursday. The stock has a fifty day moving average price of $13.52 and a 200 day moving average price of $14.85. The company has a current ratio of 2.35, a quick ratio of 1.67 and a debt-to-equity ratio of 0.40. Daktronics, Inc. has a 52 week low of $8.89 and a 52 week high of $19.89. The firm has a market capitalization of $646.89 million, a P/E ratio of 49.44, a PEG ratio of 0.57 and a beta of 1.34.

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.