Destination XL Group (NASDAQ:DXLG) Shares Down 0.8% – Here’s Why

Destination XL Group, Inc. (NASDAQ:DXLG) shares fell 0.8% during mid-day trading on Thursday . The stock traded as low as $0.62 and last traded at $0.6344. Approximately 81,627 shares changed hands during trading, an increase of 15% from the average session volume of 70,857 shares. The stock had previously closed at $0.6398.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings downgraded Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. DA Davidson restated a “buy” rating and issued a $1.50 target price on shares of Destination XL Group in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Destination XL Group currently has a consensus rating of “Hold” and an average target price of $1.50.

Destination XL Group Stock Down 0.8%

The company has a market capitalization of $35.06 million, a PE ratio of -0.87 and a beta of 1.32. The stock’s fifty day moving average price is $0.68 and its two-hundred day moving average price is $0.66.

Destination XL Group (NASDAQ:DXLG) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Destination XL Group had a negative return on equity of 10.88% and a negative net margin of 9.22%.The company had revenue of $103.33 million for the quarter, compared to the consensus estimate of $105.63 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DXLG. Cibc World Markets Corp bought a new stake in shares of Destination XL Group during the fourth quarter valued at approximately $313,000. Prescott Group Capital Management L.L.C. bought a new position in Destination XL Group in the fourth quarter worth $1,589,000. CIBC Bancorp USA Inc. purchased a new position in Destination XL Group during the third quarter valued at $445,000. Nantahala Capital Management LLC boosted its holdings in shares of Destination XL Group by 74.8% during the 3rd quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock valued at $5,902,000 after buying an additional 1,928,226 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Destination XL Group by 47.8% during the 3rd quarter. Bank of America Corp DE now owns 63,384 shares of the company’s stock valued at $83,000 after buying an additional 20,490 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Destination XL Group Company Profile

Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.