Destination XL Group (NASDAQ:DXLG) Trading Up 6.3% – Here’s What Happened

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

Analysts Set New Price Targets

DXLG has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $1.50 target price on shares of Destination XL Group in a research note on Thursday, June 4th. Weiss Ratings lowered shares of Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. One 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, the company currently has an average rating of “Hold” and an average price target of $1.50.

Destination XL Group Trading Up 6.3%

The stock has a fifty day moving average of $0.65 and a two-hundred day moving average of $0.63. The company has a market capitalization of $32.61 million, a PE ratio of -0.81 and a beta of 1.30.

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

Institutional Trading of Destination XL Group

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Destination XL Group by 24.4% during the 2nd quarter. Bank of America Corp DE now owns 42,894 shares of the company’s stock valued at $48,000 after acquiring an additional 8,404 shares during the period. Jane Street Group LLC increased its stake 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 worth $92,000 after purchasing an additional 15,593 shares during the period. Bridgeway Capital Management LLC increased its stake in Destination XL Group by 7.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock worth $458,000 after purchasing an additional 27,651 shares during the period. Two Sigma Investments LP lifted its position in Destination XL Group by 64.8% in the third quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock valued at $179,000 after purchasing an additional 53,773 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Destination XL Group in the second quarter valued at approximately $72,000. 73.49% of the stock is owned by institutional investors.

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.