Destination XL Group (NASDAQ:DXLG) Issues Earnings Results, Beats Expectations By $0.09 EPS

Destination XL Group (NASDAQ:DXLG) released its quarterly earnings data on Wednesday. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09, FiscalAI reports. Destination XL Group had a negative net margin of 9.22% and a negative return on equity of 10.88%. The firm had revenue of $111.56 million for the quarter, compared to the consensus estimate of $109.29 million.

Destination XL Group Stock Down 5.4%

Shares of NASDAQ:DXLG opened at $0.63 on Wednesday. Destination XL Group has a 52-week low of $0.43 and a 52-week high of $1.58. The stock’s fifty day simple moving average is $0.62 and its 200-day simple moving average is $0.62. The company has a market capitalization of $34.82 million, a P/E ratio of -0.86 and a beta of 1.28.

Institutional Trading of Destination XL Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DXLG. Cibc World Markets Corp acquired a new stake in shares of Destination XL Group during the 4th quarter worth about $313,000. CIBC Bancorp USA Inc. acquired a new position in shares of Destination XL Group in the third quarter valued at approximately $445,000. Nantahala Capital Management LLC lifted its stake in shares of Destination XL Group by 74.8% during the third quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock valued at $5,902,000 after buying an additional 1,928,226 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Destination XL Group by 7.2% during the second quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock valued at $458,000 after buying an additional 27,651 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Destination XL Group by 47.8% during the third quarter. Bank of America Corp DE now owns 63,384 shares of the company’s stock valued at $83,000 after buying an additional 20,490 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Wall Street Analysts Forecast Growth

DXLG has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Destination XL Group in a research report on Friday. DA Davidson reissued a “buy” rating and issued 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.50.

About Destination XL Group

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.