Kovack Advisors Inc. Sells 61,800 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Kovack Advisors Inc. trimmed its position in shares of Daktronics, Inc. (NASDAQ:DAKT) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,200 shares of the technology company’s stock after selling 61,800 shares during the period. Kovack Advisors Inc. owned about 0.69% of Daktronics worth $2,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in Daktronics by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 23,600 shares of the technology company’s stock worth $211,000 after buying an additional 2,400 shares in the last quarter. Watershed Asset Management L.L.C. raised its stake in Daktronics by 12.7% in the fourth quarter. Watershed Asset Management L.L.C. now owns 32,326 shares of the technology company’s stock worth $274,000 after buying an additional 3,655 shares in the last quarter. SG Americas Securities LLC raised its stake in Daktronics by 26.9% in the fourth quarter. SG Americas Securities LLC now owns 20,815 shares of the technology company’s stock worth $177,000 after buying an additional 4,416 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Daktronics in the third quarter worth about $40,000. Finally, Teton Advisors Inc. raised its stake in Daktronics by 9.1% in the third quarter. Teton Advisors Inc. now owns 60,000 shares of the technology company’s stock worth $535,000 after buying an additional 5,000 shares in the last quarter. 61.69% of the stock is owned by institutional investors.

Daktronics Stock Performance

DAKT remained flat at $9.29 during midday trading on Friday. 209,671 shares of the company’s stock were exchanged, compared to its average volume of 528,828. The company has a market capitalization of $429.10 million, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 0.28 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.21 and a quick ratio of 1.38. Daktronics, Inc. has a twelve month low of $4.66 and a twelve month high of $12.42. The company’s 50-day simple moving average is $9.19 and its 200-day simple moving average is $9.04.

Daktronics (NASDAQ:DAKT) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported ($0.03) EPS for the quarter. Daktronics had a net margin of 6.59% and a return on equity of 30.57%. The firm had revenue of $170.30 million for the quarter. As a group, equities research analysts forecast that Daktronics, Inc. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAKT has been the subject of a number of research reports. StockNews.com downgraded shares of Daktronics from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. TheStreet cut shares of Daktronics from a “b-” rating to a “c+” rating in a report on Friday, January 5th.

Daktronics 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.