Duluth Holdings Inc (NASDAQ:DLTH) Sees Large Increase in Short Interest

Duluth Holdings Inc (NASDAQ:DLTH) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 1,060,000 shares, an increase of 10.3% from the May 31st total of 960,800 shares. Based on an average daily volume of 72,100 shares, the days-to-cover ratio is presently 14.7 days. Currently, 5.3% of the shares of the stock are sold short.

Duluth Stock Up 1.1 %

DLTH opened at $3.69 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.79 and a quick ratio of 0.37. The stock has a market capitalization of $116.97 million, a price-to-earnings ratio of -9.00 and a beta of 1.37. The business has a 50-day moving average of $4.04 and a two-hundred day moving average of $4.60. Duluth has a 12 month low of $3.53 and a 12 month high of $7.88.

Duluth (NASDAQ:DLTH) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.10). The firm had revenue of $116.68 million during the quarter, compared to analyst estimates of $119.70 million. Duluth had a negative net margin of 2.09% and a negative return on equity of 6.11%. On average, research analysts expect that Duluth will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Robert W. Baird lowered their price target on Duluth from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, May 31st.

Insider Buying and Selling

In related news, SVP Neala Shepherd sold 10,000 shares of Duluth stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $4.70, for a total transaction of $47,000.00. Following the completion of the sale, the senior vice president now owns 122,587 shares in the company, valued at approximately $576,158.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 35.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Duluth

Hedge funds and other institutional investors have recently modified their holdings of the company. Taylor & Morgan Wealth Management LLC acquired a new position in Duluth during the 4th quarter worth approximately $54,000. Silverlake Wealth Management LLC acquired a new position in Duluth during the 4th quarter worth approximately $58,000. Virtu Financial LLC acquired a new position in Duluth during the 1st quarter worth approximately $73,000. Brave Asset Management Inc. increased its holdings in Duluth by 70.6% during the 4th quarter. Brave Asset Management Inc. now owns 29,000 shares of the company’s stock worth $156,000 after purchasing an additional 12,000 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Duluth by 896.4% during the 1st quarter. BNP Paribas Financial Markets now owns 39,985 shares of the company’s stock worth $196,000 after purchasing an additional 35,972 shares during the last quarter. 24.39% of the stock is owned by institutional investors and hedge funds.

About Duluth

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.