4,141,740 Shares in Destination XL Group, Inc. $DXLG Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC purchased a new stake in shares of Destination XL Group, Inc. (NASDAQ:DXLG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,141,740 shares of the company’s stock, valued at approximately $2,774,966. Nantahala Capital Management LLC owned about 7.49% of Destination XL Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of DXLG. Jane Street Group LLC raised 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 valued at $92,000 after acquiring an additional 15,593 shares during the period. XTX Topco Ltd acquired a new position in shares of Destination XL Group in the second quarter valued at $72,000. Qube Research & Technologies Ltd acquired a new position in shares of Destination XL Group in the second quarter valued at $84,000. Bank of America Corp DE raised its position in shares of 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 during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of Destination XL Group by 7.2% in the second quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock valued at $458,000 after purchasing an additional 27,651 shares during the period. 73.49% of the stock is currently owned by institutional investors.

Destination XL Group Price Performance

Shares of DXLG opened at $0.62 on Friday. Destination XL Group, Inc. has a one year low of $0.43 and a one year high of $1.58. The company has a market cap of $34.27 million, a P/E ratio of -0.85 and a beta of 1.30. The firm has a 50 day simple moving average of $0.62 and a two-hundred day simple moving average of $0.61.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DXLG. DA Davidson reiterated a “buy” rating and set a $1.50 target price on shares of Destination XL Group in a research note on Thursday, June 4th. Weiss Ratings lowered Destination XL Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.50.

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.