Nantahala Capital Management LLC Takes Position in Destination XL Group, Inc. $DXLG

Nantahala Capital Management LLC purchased a new stake in Destination XL Group, Inc. (NASDAQ:DXLG) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,141,740 shares of the company’s stock, valued at approximately $2,774,966. Nantahala Capital Management LLC owned approximately 0.07% of Destination XL Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE increased 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 valued at $48,000 after purchasing an additional 8,404 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Destination XL Group during the 2nd quarter worth about $72,000. Empowered Funds LLC acquired a new stake in shares of Destination XL Group in the 2nd quarter valued at about $73,000. Qube Research & Technologies Ltd acquired a new stake in shares of Destination XL Group in the 2nd quarter valued at about $84,000. Finally, Jane Street Group LLC increased 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 buying an additional 15,593 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DXLG has been the subject of several recent research reports. DA Davidson restated a “buy” rating and set a $1.50 price objective on shares of Destination XL Group in a report on Thursday, June 4th. Weiss Ratings downgraded shares of Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $1.50.

Destination XL Group Trading Down 0.1%

DXLG stock opened at $0.62 on Friday. The stock has a market cap of $34.27 million, a P/E ratio of -0.85 and a beta of 1.30. The stock’s fifty day simple moving average is $0.62 and its two-hundred day simple moving average is $0.61. Destination XL Group, Inc. has a 1-year low of $0.43 and a 1-year high of $1.58.

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

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.