Destination XL Group, Inc. (NASDAQ:DXLG) Sees Large Increase in Short Interest

Destination XL Group, Inc. (NASDAQ:DXLG) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 5,540,000 shares, an increase of 9.9% from the June 15th total of 5,040,000 shares. Based on an average daily volume of 262,700 shares, the days-to-cover ratio is currently 21.1 days. Approximately 10.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DXLG. Craig Hallum dropped their price target on shares of Destination XL Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research report on Friday, May 31st. StockNews.com lowered shares of Destination XL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th.

Insider Transactions at Destination XL Group

In other news, major shareholder Fund 1 Investments, Llc sold 225,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $3.15, for a total value of $708,750.00. Following the sale, the insider now owns 5,691,577 shares of the company’s stock, valued at $17,928,467.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Destination XL Group

A number of hedge funds have recently bought and sold shares of DXLG. Fund 1 Investments LLC increased its position in Destination XL Group by 144.3% during the fourth quarter. Fund 1 Investments LLC now owns 5,239,180 shares of the company’s stock worth $23,052,000 after acquiring an additional 3,094,183 shares during the period. Vanguard Group Inc. increased its position in Destination XL Group by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,926,482 shares of the company’s stock worth $10,535,000 after acquiring an additional 22,809 shares during the period. Hillsdale Investment Management Inc. increased its position in Destination XL Group by 1.9% during the first quarter. Hillsdale Investment Management Inc. now owns 584,860 shares of the company’s stock worth $2,105,000 after acquiring an additional 10,900 shares during the period. Panagora Asset Management Inc. increased its position in Destination XL Group by 26.6% during the fourth quarter. Panagora Asset Management Inc. now owns 307,811 shares of the company’s stock worth $1,354,000 after acquiring an additional 64,583 shares during the period. Finally, GSA Capital Partners LLP increased its position in Destination XL Group by 60.5% during the first quarter. GSA Capital Partners LLP now owns 253,516 shares of the company’s stock worth $913,000 after acquiring an additional 95,606 shares during the period. 73.49% of the stock is owned by institutional investors.

Destination XL Group Price Performance

NASDAQ:DXLG opened at $3.79 on Thursday. Destination XL Group has a one year low of $3.01 and a one year high of $5.28. The company has a market cap of $220.73 million, a P/E ratio of 9.97 and a beta of 1.32. The firm’s fifty day moving average price is $3.53 and its two-hundred day moving average price is $3.67.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.06 EPS for the quarter. Destination XL Group had a net margin of 4.82% and a return on equity of 19.45%. The firm had revenue of $115.49 million for the quarter.

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.