Lazard Asset Management LLC Acquires 48,051 Shares of Daktronics, Inc. (NASDAQ:DAKT)

Lazard Asset Management LLC raised its holdings in Daktronics, Inc. (NASDAQ:DAKT) by 44.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 156,907 shares of the technology company’s stock after purchasing an additional 48,051 shares during the period. Lazard Asset Management LLC’s holdings in Daktronics were worth $2,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DAKT. Summit Investment Advisors Inc. grew its position in Daktronics by 29.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,192 shares of the technology company’s stock valued at $71,000 after acquiring an additional 965 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Daktronics in the fourth quarter valued at about $125,000. Knott David M Jr bought a new position in Daktronics in the fourth quarter valued at about $132,000. Fox Run Management L.L.C. bought a new position in Daktronics in the fourth quarter valued at about $169,000. Finally, Retirement Solution LLC acquired a new stake in shares of Daktronics during the fourth quarter valued at about $169,000. Institutional investors own 61.69% of the company’s stock.

Daktronics Price Performance

DAKT stock opened at $15.10 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.67 and a current ratio of 2.35. Daktronics, Inc. has a 52-week low of $10.24 and a 52-week high of $19.89. The company has a market capitalization of $753.38 million, a P/E ratio of 60.40, a PEG ratio of 0.57 and a beta of 1.56. The company has a fifty day moving average price of $12.80 and a 200-day moving average price of $14.87.

Insider Buying and Selling

In other Daktronics news, Director Andrew David Siegel acquired 2,500 shares of Daktronics stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $11.50 per share, with a total value of $28,750.00. Following the completion of the purchase, the director now directly owns 43,446 shares in the company, valued at $499,629. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 5.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum initiated coverage on Daktronics in a research note on Wednesday, January 22nd. They issued a “buy” rating and a $26.00 price objective for the company.

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.