Destination XL Group, Inc. (NASDAQ:DXLG) Sees Significant Decline in Short Interest

Destination XL Group, Inc. (NASDAQ:DXLG) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 4,550,000 shares, a decline of 9.7% from the September 15th total of 5,040,000 shares. Currently, 8.6% of the shares of the company are sold short. Based on an average daily trading volume, of 371,400 shares, the short-interest ratio is currently 12.3 days.

Wall Street Analyst Weigh In

DXLG has been the topic of several research reports. DA Davidson dropped their price objective on shares of Destination XL Group from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. StockNews.com lowered Destination XL Group from a “buy” rating to a “hold” rating in a report on Friday, October 4th.

Institutional Investors Weigh In On Destination XL Group

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its position in shares of Destination XL Group by 8.1% during the first quarter. Empowered Funds LLC now owns 55,808 shares of the company’s stock worth $201,000 after buying an additional 4,200 shares during the period. Hillsdale Investment Management Inc. raised its holdings 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 purchasing an additional 10,900 shares in the last quarter. BNP Paribas Financial Markets lifted its position 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 worth $102,000 after purchasing an additional 12,656 shares during the period. Dimensional Fund Advisors LP boosted its stake in Destination XL Group by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,026,076 shares of the company’s stock valued at $7,375,000 after purchasing an additional 18,952 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Destination XL Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 2,926,482 shares of the company’s stock valued at $10,535,000 after purchasing an additional 22,809 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

Destination XL Group Stock Performance

NASDAQ DXLG remained flat at $2.95 during trading hours on Thursday. The company’s stock had a trading volume of 283,760 shares, compared to its average volume of 319,098. The company has a market cap of $171.79 million, a price-to-earnings ratio of 7.76 and a beta of 1.30. Destination XL Group has a 1 year low of $2.19 and a 1 year high of $4.90. The business has a fifty day moving average of $2.82 and a two-hundred day moving average of $3.23.

Destination XL Group (NASDAQ:DXLG) last released its quarterly 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). The firm had revenue of $124.82 million for the quarter. Destination XL Group had a return on equity of 11.10% and a net margin of 3.11%.

About Destination XL Group

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.