Destination XL Group (NASDAQ:DXLG) Trading Up 6.3% – Should You Buy?

Destination XL Group, Inc. (NASDAQ:DXLG)’s stock price traded up 6.3% during trading on Thursday . The company traded as high as $0.59 and last traded at $0.59. 7,283 shares were traded during trading, a decline of 84% from the average session volume of 44,531 shares. The stock had previously closed at $0.5552.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DXLG shares. Weiss Ratings cut shares of Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. DA Davidson reaffirmed a “buy” rating and set a $1.50 price objective on shares of Destination XL Group in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Destination XL Group presently has an average rating of “Hold” and a consensus price target of $1.50.

Destination XL Group Trading Up 6.3%

The business’s 50 day moving average price is $0.65 and its two-hundred day moving average price is $0.63. The stock has a market cap of $32.61 million, a P/E ratio of -0.81 and a beta of 1.30.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DXLG. Bank of America Corp DE grew its stake in Destination XL Group by 24.4% in the second quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock worth $48,000 after purchasing an additional 8,404 shares during the period. XTX Topco Ltd bought a new position in Destination XL Group in the second quarter worth $72,000. Qube Research & Technologies Ltd purchased a new position in Destination XL Group during the second quarter valued at $84,000. Jane Street Group LLC increased its stake in shares of Destination XL Group by 32.9% in the 1st quarter. Jane Street Group LLC now owns 63,044 shares of the company’s stock worth $92,000 after acquiring an additional 15,593 shares in the last quarter. Finally, Two Sigma Investments LP increased 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 worth $179,000 after acquiring an additional 53,773 shares in the last quarter. Hedge funds and other institutional investors 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.