Destination XL Group (NASDAQ:DXLG) Trading Down 0.8% – Here’s Why

Destination XL Group, Inc. (NASDAQ:DXLG)’s share price fell 0.8% on Thursday . The company traded as low as $0.62 and last traded at $0.6344. 81,627 shares were traded during trading, an increase of 15% from the average session volume of 70,857 shares. The stock had previously closed at $0.6398.

Analyst Ratings Changes

Several equities research analysts recently commented on DXLG shares. Weiss Ratings lowered Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. DA Davidson reiterated a “buy” rating and issued a $1.50 target price on shares of Destination XL Group in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Destination XL Group has an average rating of “Hold” and a consensus target price of $1.50.

Destination XL Group Stock Up 0.4%

The stock has a market capitalization of $35.19 million, a P/E ratio of -0.87 and a beta of 1.32. The firm’s 50 day simple moving average is $0.68 and its two-hundred day simple moving average is $0.66.

Destination XL Group (NASDAQ:DXLG) last released its quarterly earnings data on Wednesday, June 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The company had revenue of $103.33 million for the quarter, compared to analysts’ expectations of $105.63 million. Destination XL Group had a negative net margin of 9.22% and a negative return on equity of 10.88%.

Institutional Investors Weigh In On Destination XL Group

A number of hedge funds have recently added to or reduced their stakes in DXLG. Bank of America Corp DE increased its holdings in shares of Destination XL Group by 24.4% during the second quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock valued at $48,000 after acquiring an additional 8,404 shares in the last quarter. XTX Topco Ltd acquired a new stake in Destination XL Group in the 2nd quarter valued at $72,000. Qube Research & Technologies Ltd acquired a new stake in Destination XL Group in the 2nd quarter valued at $84,000. Jane Street Group LLC grew its position in Destination XL Group by 32.9% in the 1st quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock valued at $92,000 after purchasing an additional 15,593 shares during the period. Finally, Two Sigma Investments LP increased its stake in Destination XL Group by 64.8% during 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 in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.