Destination XL Group, Inc. (NASDAQ:DXLG) Sees Significant Growth in Short Interest

Destination XL Group, Inc. (NASDAQ:DXLG) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,510,000 shares, a growth of 5.4% from the March 15th total of 4,280,000 shares. Approximately 8.8% of the shares of the company are sold short. Based on an average daily volume of 310,900 shares, the short-interest ratio is currently 14.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Destination XL Group from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th.

Institutional Trading of Destination XL Group

Large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its position in shares of Destination XL Group by 101.6% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,701 shares of the company’s stock valued at $25,000 after purchasing an additional 1,865 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Destination XL Group during the fourth quarter worth approximately $32,000. Qube Research & Technologies Ltd acquired a new stake in Destination XL Group during the third quarter worth approximately $26,000. UBS Group AG boosted its position in Destination XL Group by 245.2% during the third quarter. UBS Group AG now owns 5,920 shares of the company’s stock worth $32,000 after acquiring an additional 4,205 shares during the last quarter. Finally, Point72 Middle East FZE acquired a new stake in Destination XL Group during the fourth quarter worth approximately $40,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Destination XL Group Price Performance

Destination XL Group stock remained flat at $3.27 during mid-day trading on Wednesday. 29,982 shares of the company’s stock were exchanged, compared to its average volume of 313,067. The business’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $4.04. The company has a market cap of $189.63 million, a P/E ratio of 7.60 and a beta of 1.30. Destination XL Group has a 12 month low of $3.18 and a 12 month high of $5.36.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings results on Thursday, March 21st. The company reported $0.10 EPS for the quarter. The business had revenue of $137.14 million for the quarter. Destination XL Group had a net margin of 5.34% and a return on equity of 21.84%.

Destination XL Group Company Profile

Destination XL Group, Inc, together with its subsidiaries, operates as a specialty retailer of big and tall men's clothing and shoes in the United States. The company's stores offer sportswear and dresswear; fashion-neutral items, including jeans, casual pants, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.