Designer Brands Inc (NYSE:DBI) Short Interest Up 9.0% in June

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Designer Brands Inc (NYSE:DBI) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 7,599,400 shares, an increase of 9.0% from the May 30th total of 6,974,800 shares. Based on an average daily trading volume, of 1,630,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 11.1% of the shares of the company are short sold.

In other news, Director Joanne Zaiac sold 3,688 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $19.14, for a total transaction of $70,588.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harvey L. Sonnenberg sold 7,924 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $18.29, for a total transaction of $144,929.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,612 shares of company stock worth $1,536,418. Insiders own 17.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in DBI. Advisory Services Network LLC purchased a new position in shares of Designer Brands during the 1st quarter valued at $37,000. Smith Graham & Co. Investment Advisors LP purchased a new position in shares of Designer Brands during the 1st quarter valued at $5,915,000. Nisa Investment Advisors LLC purchased a new position in shares of Designer Brands during the 1st quarter valued at $590,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Designer Brands during the 1st quarter valued at $587,000. Finally, Mason Street Advisors LLC purchased a new position in shares of Designer Brands during the 1st quarter valued at $487,000. Institutional investors and hedge funds own 79.26% of the company’s stock.

Designer Brands stock traded up $0.16 during mid-day trading on Tuesday, reaching $18.29. The company’s stock had a trading volume of 8,574 shares, compared to its average volume of 1,249,367. Designer Brands has a 12-month low of $17.55 and a 12-month high of $34.63. The firm has a market cap of $1.42 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.66 and a beta of 1.23. The company has a quick ratio of 0.43, a current ratio of 1.50 and a debt-to-equity ratio of 1.52. The stock has a fifty day moving average of $18.63.

Designer Brands (NYSE:DBI) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Designer Brands had a negative net margin of 0.41% and a positive return on equity of 15.85%. The business had revenue of $878.52 million during the quarter, compared to analyst estimates of $874.97 million. During the same period in the previous year, the business earned $0.39 EPS. Designer Brands’s revenue was up 23.4% compared to the same quarter last year. Equities analysts expect that Designer Brands will post 1.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Wednesday, June 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, June 18th. This represents a $1.00 dividend on an annualized basis and a yield of 5.47%. Designer Brands’s dividend payout ratio is 60.24%.

Several equities research analysts have recently issued reports on DBI shares. Zacks Investment Research lowered shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. TheStreet lowered shares of Urban Outfitters from a “b-” rating to a “c+” rating in a research note on Thursday, May 30th. CL King upgraded shares of Designer Brands from a “buy” rating to a “strong-buy” rating and set a $23.00 price target for the company in a research note on Friday, April 12th. Wedbush restated a “hold” rating and set a $1.00 price target on shares of Regulus Therapeutics in a research note on Thursday, May 16th. Finally, ValuEngine upgraded shares of WEX from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.00.

Designer Brands Company Profile

Designer Brands Inc designs, producers, and retails footwear and accessories for women, men, and kids primarily in North America. It operates through three segments: The U.S. Retail, the Canada Retail, and the Brand Portfolio. The company also provides handbags, hosiery, jewelry, and other accessories.

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