Destination XL Group (NASDAQ:DXLG) Trading Up 6.3% – Still a Buy?

Shares of Destination XL Group, Inc. (NASDAQ:DXLG) rose 6.3% on Thursday . The company traded as high as $0.59 and last traded at $0.59. Approximately 7,283 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 44,531 shares. The stock had previously closed at $0.5552.

Analyst Ratings Changes

DXLG has been the subject of several recent analyst reports. DA Davidson reissued a “buy” rating and issued a $1.50 price objective on shares of Destination XL Group in a report on Thursday, June 4th. Weiss Ratings lowered shares of Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Destination XL Group currently has a consensus rating of “Hold” and an average price target of $1.50.

Destination XL Group Stock Up 8.5%

The firm has a 50 day simple moving average of $0.65 and a 200-day simple moving average of $0.63. The stock has a market cap of $35.38 million, a P/E ratio of -0.88 and a beta of 1.30.

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

Hedge Funds Weigh In On Destination XL Group

Several large investors have recently modified their holdings of the stock. 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 worth $5,902,000 after buying an additional 1,928,226 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in shares of Destination XL Group during the fourth quarter worth approximately $1,589,000. BlackRock Inc. acquired a new position in shares of Destination XL Group in the second quarter valued at approximately $594,000. Bridgeway Capital Management LLC grew its position in shares of Destination XL Group by 7.2% in the second quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock valued at $458,000 after purchasing an additional 27,651 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Destination XL Group during the third quarter worth approximately $445,000. 73.49% of the stock is owned by institutional investors.

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.