Destination XL Group, Inc. (NASDAQ:DXLG) Sees Significant Decrease in Short Interest

Destination XL Group, Inc. (NASDAQ:DXLG) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 4,550,000 shares, a drop of 9.7% from the September 15th total of 5,040,000 shares. Currently, 8.6% of the company’s shares are sold short. Based on an average trading volume of 371,400 shares, the short-interest ratio is presently 12.3 days.

Destination XL Group Stock Performance

Shares of NASDAQ:DXLG remained flat at $2.95 during midday trading on Thursday. The stock had a trading volume of 283,760 shares, compared to its average volume of 319,098. Destination XL Group has a 1-year low of $2.19 and a 1-year high of $4.90. The business has a 50 day moving average of $2.82 and a two-hundred day moving average of $3.23. The company has a market cap of $171.79 million, a PE ratio of 7.76 and a beta of 1.30.

Destination XL Group (NASDAQ:DXLG) last posted its earnings results on Thursday, August 29th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). The company had revenue of $124.82 million for the quarter. Destination XL Group had a return on equity of 11.10% and a net margin of 3.11%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. DA Davidson lowered their price objective on Destination XL Group from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 30th. StockNews.com cut shares of Destination XL Group from a “buy” rating to a “hold” rating in a research report on Friday, October 4th.

Institutional Investors Weigh In On Destination XL Group

Several large investors have recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in Destination XL Group in the third quarter valued at about $327,000. SG Americas Securities LLC bought a new position in shares of Destination XL Group during the 3rd quarter valued at about $3,006,000. Long Focus Capital Management LLC grew its position in shares of Destination XL Group by 19.0% in the 2nd quarter. Long Focus Capital Management LLC now owns 438,042 shares of the company’s stock valued at $1,594,000 after purchasing an additional 70,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Destination XL Group by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,026,076 shares of the company’s stock worth $7,375,000 after purchasing an additional 18,952 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Destination XL Group by 15.4% during the 2nd quarter. American Century Companies Inc. now owns 1,198,911 shares of the company’s stock worth $4,364,000 after buying an additional 159,943 shares during the period. Institutional investors own 73.49% of the company’s stock.

About Destination XL Group

Destination XL Group, Inc, together with its subsidiaries, operates as a specialty retailer of big and tall men's clothing and shoes in the United States. The company's stores offer sportswear and dresswear; fashion-neutral items, including jeans, casual pants, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.