Short Interest in Duluth Holdings Inc. (NASDAQ:DLTH) Expands By 50.5%

Duluth Holdings Inc. (NASDAQ:DLTH) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 462,175 shares, an increase of 50.5% from the December 15th total of 307,101 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 280,441 shares, the days-to-cover ratio is presently 1.6 days. Based on an average trading volume of 280,441 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DLTH. Wall Street Zen upgraded shares of Duluth to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Duluth in a report on Tuesday, October 14th. Robert W. Baird set a $5.00 target price on Duluth in a report on Wednesday, December 17th. Finally, Singular Research raised Duluth to a “strong-buy” rating in a research note on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.00.

Insider Activity at Duluth

In other news, SVP Richard W. Schlecht acquired 18,052 shares of Duluth stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average price of $2.17 per share, for a total transaction of $39,172.84. Following the completion of the transaction, the senior vice president owned 341,731 shares in the company, valued at $741,556.27. The trade was a 5.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 42.94% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Duluth in the second quarter valued at approximately $50,000. Taylor & Morgan Wealth Management LLC grew its stake in Duluth by 29.2% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 31,000 shares of the company’s stock worth $64,000 after buying an additional 7,000 shares during the last quarter. Yarger Wealth Strategies LLC grew its stake in Duluth by 124.5% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 32,419 shares of the company’s stock worth $68,000 after buying an additional 17,978 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Duluth during the 3rd quarter valued at about $85,000. Finally, GSA Capital Partners LLP acquired a new stake in Duluth in the third quarter worth about $140,000. Institutional investors own 24.39% of the company’s stock.

Duluth Trading Down 0.9%

NASDAQ:DLTH traded down $0.02 during midday trading on Friday, hitting $2.31. 42,151 shares of the company traded hands, compared to its average volume of 97,401. Duluth has a 12-month low of $1.58 and a 12-month high of $4.66. The company has a current ratio of 1.29, a quick ratio of 0.21 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $84.84 million, a P/E ratio of -2.66 and a beta of 1.80. The firm’s fifty day moving average is $2.64 and its 200-day moving average is $2.76.

Duluth (NASDAQ:DLTH) last issued its earnings results on Tuesday, December 16th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.33. Duluth had a negative net margin of 5.03% and a negative return on equity of 11.51%. The firm had revenue of $114.87 million during the quarter, compared to analyst estimates of $118.50 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. On average, sell-side analysts predict that Duluth will post -0.56 EPS for the current year.

Key Headlines Impacting Duluth

Here are the key news stories impacting Duluth this week:

• Neutral Sentiment: Third?party financial comparison: A recent financial comparison piece contrasts Tandy Brands Accessories (OTC: TBACQ) with Duluth (DLTH); this is informational and doesn’t announce corporate actions or new guidance. Tandy Brands Accessories (OTCMKTS:TBACQ) vs. Duluth (NASDAQ:DLTH) Financial Comparison
• Neutral Sentiment: Regional real estate and infrastructure stories (office buildings for sale, 4th Street reconstruction, municipal plans) highlight local economic activity in Duluth but are unlikely to move DLTH stock, which is driven by retail performance and national sales. On the Market: Office buildings for sale offer value-add in Minnetonka, Duluth City of Duluth holds open house to introduce 4th Street reconstruction project
• Neutral Sentiment: Local economic headwinds: Coverage on a tough shipping season and economic strain at Duluth’s Twin Ports may signal regional weakness that could modestly affect local retail traffic, but this is unlikely to be a major driver for a national retailer like Duluth Trading Company. A tough shipping season ends with Duluth’s Twin Ports facing stiff economic headwinds Duluth’s Twin Ports faces stiff economic headwinds
• Neutral Sentiment: Other local news (community forums, school center naming submissions, public safety and missing?child reports) do not pertain to Duluth Holdings’ operations or financials. Submissions open to name soon-to-be Duluth Public Schools education center
• Negative Sentiment: Investor litigation/investigation: Pomerantz LLP announced an investigation into claims on behalf of Duluth Holdings investors. Such announcements tend to weigh on small?cap stocks like DLTH because they raise the prospect of shareholder suits, management distraction, potential settlements or reputational risk. This is the most direct negative item affecting DLTH today. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Duluth Holdings Inc. – DLTH

Duluth Company Profile

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company’s product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.