Destination XL Group (NASDAQ:DXLG) Announces Earnings Results

Destination XL Group (NASDAQ:DXLG) announced its quarterly earnings data on Wednesday. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06), FiscalAI reports. The firm had revenue of $103.34 million for the quarter, compared to analyst estimates of $105.63 million. Destination XL Group had a negative return on equity of 8.96% and a negative net margin of 8.25%.

Destination XL Group Stock Performance

Shares of DXLG stock opened at $0.69 on Wednesday. The firm’s 50 day moving average price is $0.62 and its two-hundred day moving average price is $0.73. Destination XL Group has a 52-week low of $0.44 and a 52-week high of $1.69. The stock has a market cap of $38.14 million, a PE ratio of -1.05 and a beta of 1.32.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC lifted its stake in shares of Destination XL Group by 74.8% in the 3rd quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock valued at $5,902,000 after purchasing an additional 1,928,226 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Destination XL Group by 7.2% in the 2nd 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 period. CIBC Bancorp USA Inc. acquired a new position in shares of Destination XL Group in the 3rd quarter valued at $445,000. Cibc World Markets Corp acquired a new position in shares of Destination XL Group in the 4th quarter valued at $313,000. Finally, Two Sigma Investments LP lifted its stake in shares of Destination XL Group by 64.8% in the 3rd quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock valued at $179,000 after purchasing an additional 53,773 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and issued a $1.50 price target on shares of Destination XL Group in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $1.50.

About Destination XL Group

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.