Fox Opportunities Fund L. Alta Sells 1,000,000 Shares of Daktronics, Inc. (NASDAQ:DAKT) Stock

Daktronics, Inc. (NASDAQ:DAKT) major shareholder Fox Opportunities Fund L. Alta sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $14.90, for a total transaction of $14,900,000.00. Following the sale, the insider now owns 4,973,599 shares in the company, valued at $74,106,625.10. The trade was a 16.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Daktronics Trading Up 2.0%

Shares of DAKT stock opened at $15.04 on Friday. The stock has a market capitalization of $750.39 million, a price-to-earnings ratio of 60.16, a PEG ratio of 0.57 and a beta of 1.56. The company’s fifty day simple moving average is $13.36 and its two-hundred day simple moving average is $14.96. Daktronics, Inc. has a 1 year low of $10.24 and a 1 year high of $19.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.67.

Institutional Trading of Daktronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Alta Fox Capital Management LLC boosted its stake in Daktronics by 94.3% in the 1st quarter. Alta Fox Capital Management LLC now owns 5,973,599 shares of the technology company’s stock worth $72,758,000 after purchasing an additional 2,899,263 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Daktronics by 466.6% in the first quarter. Bank of New York Mellon Corp now owns 1,344,442 shares of the technology company’s stock worth $16,375,000 after buying an additional 1,107,157 shares in the last quarter. Breach Inlet Capital Management LLC boosted its position in shares of Daktronics by 82.6% in the first quarter. Breach Inlet Capital Management LLC now owns 1,656,758 shares of the technology company’s stock valued at $20,179,000 after acquiring an additional 749,444 shares during the period. Invesco Ltd. grew its stake in Daktronics by 554.6% during the fourth quarter. Invesco Ltd. now owns 724,796 shares of the technology company’s stock valued at $12,220,000 after acquiring an additional 614,075 shares in the last quarter. Finally, Duquesne Family Office LLC grew its stake in Daktronics by 16.9% during the first quarter. Duquesne Family Office LLC now owns 3,067,625 shares of the technology company’s stock valued at $37,364,000 after acquiring an additional 442,520 shares in the last quarter. 61.69% of the stock is currently owned by institutional investors.

About Daktronics

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.