Essex Investment Management Co. LLC cut its stake in shares of Duluth Holdings Inc. (NASDAQ:DLTH) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,761 shares of the company’s stock after selling 8 shares during the period. Essex Investment Management Co. LLC’s holdings in Duluth Holdings were worth $679,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of DLTH. First Dallas Securities Inc. acquired a new position in shares of Duluth Holdings during the second quarter valued at $440,000. Barclays PLC raised its position in shares of Duluth Holdings by 3,695.2% in the first quarter. Barclays PLC now owns 25,390 shares of the company’s stock valued at $482,000 after buying an additional 24,721 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Duluth Holdings by 45.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 60,886 shares of the company’s stock valued at $1,187,000 after buying an additional 19,161 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Duluth Holdings during the first quarter valued at $1,303,000. Finally, Geode Capital Management LLC raised its position in shares of Duluth Holdings by 215.9% in the first quarter. Geode Capital Management LLC now owns 68,327 shares of the company’s stock valued at $1,331,000 after buying an additional 46,699 shares in the last quarter. 26.93% of the stock is owned by institutional investors and hedge funds.
Duluth Holdings Inc. (NASDAQ:DLTH) traded up 0.45% during midday trading on Wednesday, reaching $26.84. The company’s stock had a trading volume of 176,611 shares. Duluth Holdings Inc. has a 52 week low of $12.76 and a 52 week high of $31.79. The company’s 50-day moving average is $28.52 and its 200 day moving average is $25.08. The firm has a market capitalization of $868.95 million and a P/E ratio of 42.74.
Duluth Holdings (NASDAQ:DLTH) last announced its earnings results on Thursday, September 8th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Duluth Holdings had a net margin of 5.96% and a return on equity of 24.89%. The business earned $65.80 million during the quarter. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. Analysts expect that Duluth Holdings Inc. will post $0.70 earnings per share for the current fiscal year.
Several brokerages recently weighed in on DLTH. Zacks Investment Research upgraded Duluth Holdings from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday, July 26th. Robert W. Baird lifted their price target on Duluth Holdings from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, September 9th. BMO Capital Markets restated an “outperform” rating and issued a $35.00 price target (up previously from $28.00) on shares of Duluth Holdings in a research note on Saturday, September 10th. Stifel Nicolaus lifted their price target on Duluth Holdings from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 2nd. Finally, Wunderlich began coverage on Duluth Holdings in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $30.00 price target for the company. Seven research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $31.00.
In other news, Director William E. Ferry sold 4,180 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.61, for a total transaction of $102,869.80. Following the completion of the sale, the director now owns 3,333 shares in the company, valued at $82,025.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 70.71% of the company’s stock.
About Duluth Holdings
Duluth Holdings Inc (Duluth Trading) is a lifestyle brand of men’s and women’s casual wear, workwear and accessories sold through the Company’s own channels. The Company offers a line of functional products, such as Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company operates through two segments: direct and retail.
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