Duluth (NASDAQ:DLTH) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Duluth Holdings Inc. (NASDAQ:DLTH)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.29 and traded as low as $2.15. Duluth shares last traded at $2.19, with a volume of 25,830 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DLTH. Wall Street Zen upgraded shares of Duluth to a “hold” rating in a report on Friday, November 28th. Robert W. Baird set a $5.00 price objective on shares of Duluth in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Duluth Trading Down 3.9%

The firm has a market capitalization of $80.44 million, a PE ratio of -2.52 and a beta of 1.85. The company’s 50-day simple moving average is $2.29 and its 200 day simple moving average is $2.79. The company has a quick ratio of 0.21, a current ratio of 1.29 and a debt-to-equity ratio of 0.33.

Duluth (NASDAQ:DLTH) last posted its quarterly earnings data on Tuesday, December 16th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.33. Duluth had a negative return on equity of 11.51% and a negative net margin of 5.03%.The firm had revenue of $114.87 million during the quarter, compared to analysts’ expectations of $118.50 million. During the same quarter last year, the firm earned ($0.41) EPS. As a group, sell-side analysts expect that Duluth Holdings Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Richard W. Schlecht bought 18,052 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average cost of $2.17 per share, for a total transaction of $39,172.84. Following the purchase, the senior vice president directly owned 341,731 shares of the company’s stock, valued at approximately $741,556.27. This trade represents a 5.58% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 42.94% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Duluth during the fourth quarter worth $52,000. Taylor & Morgan Wealth Management LLC raised its stake in Duluth by 29.2% in the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 31,000 shares of the company’s stock worth $64,000 after acquiring an additional 7,000 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Duluth in the 3rd quarter worth $85,000. Barclays PLC grew its stake in Duluth by 32.2% during the 4th quarter. Barclays PLC now owns 58,043 shares of the company’s stock valued at $121,000 after purchasing an additional 14,136 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Duluth during the 3rd quarter valued at about $140,000. Hedge funds and other institutional investors own 24.39% of the company’s stock.

About Duluth

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.