Is Daktronics, Inc. (DAKT) A Good Stock To Buy?

Consequently, key money managers have been driving this bullishness. Millennium Management, led by Israel Englander, created the most valuable position in Daktronics, Inc. (NASDAQ:DAKT). Millennium Management had $3.5 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also made a $0.5 million investment in the stock during the quarter. The following funds were also among the new DAKT investors: Matthew Tewksbury’s Stevens Capital Management, Paul Tudor Jones’s Tudor Investment Corp, and Matthew Hulsizer’s PEAK6 Capital Management.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Daktronics, Inc. (NASDAQ:DAKT) but similarly valued. These stocks are Enzo Biochem, Inc. (NYSE:ENZ), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO), LSI Industries, Inc. (NASDAQ:LYTS), and Panhandle Oil and Gas Inc. (NYSE:PHX). This group of stocks’ market values match DAKT’s market value.

As you can see these stocks had an average of 8.5 hedge funds with bullish positions and the average amount invested in these stocks was $23 million. That figure was $16 million in DAKT’s case. Enzo Biochem, Inc. (NYSE:ENZ) is the most popular stock in this table. On the other hand Panhandle Oil and Gas Inc. (NYSE:PHX) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Daktronics, Inc. (NASDAQ:DAKT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.