Destination XL Group, Inc. (NASDAQ:DXLG) Short Interest Up 10.7% in August

Destination XL Group, Inc. (NASDAQ:DXLG) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 5,770,000 shares, an increase of 10.7% from the August 15th total of 5,210,000 shares. Based on an average daily volume of 336,600 shares, the days-to-cover ratio is currently 17.1 days. Approximately 10.9% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DXLG shares. Craig Hallum dropped their price objective on shares of Destination XL Group from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. DA Davidson lowered their target price on shares of Destination XL Group from $6.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, StockNews.com cut shares of Destination XL Group from a “buy” rating to a “hold” rating in a report on Monday, September 2nd.

Destination XL Group Stock Up 0.4 %

Shares of Destination XL Group stock traded up $0.01 during trading on Wednesday, reaching $2.82. The company’s stock had a trading volume of 41,768 shares, compared to its average volume of 307,009. The business has a 50 day moving average price of $3.11 and a 200-day moving average price of $3.35. Destination XL Group has a 12-month low of $2.19 and a 12-month high of $4.90. The company has a market capitalization of $164.22 million, a P/E ratio of 7.39 and a beta of 1.29.

Destination XL Group (NASDAQ:DXLG) last issued its earnings results on Thursday, August 29th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.05). Destination XL Group had a return on equity of 11.10% and a net margin of 3.11%. The company had revenue of $124.82 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fund 1 Investments LLC boosted its stake in shares of Destination XL Group by 144.3% during the 4th 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 in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 22,809 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Destination XL Group by 81.1% in the first quarter. BNP Paribas Financial Markets now owns 28,261 shares of the company’s stock valued at $102,000 after purchasing an additional 12,656 shares during the last quarter. Empowered Funds LLC increased its position in shares of Destination XL Group by 8.1% in the first quarter. Empowered Funds LLC now owns 55,808 shares of the company’s stock valued at $201,000 after buying an additional 4,200 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Destination XL Group by 1.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 584,860 shares of the company’s stock worth $2,105,000 after buying an additional 10,900 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.