Duluth (NASDAQ:DLTH) Stock Passes Below 50 Day Moving Average – Here’s Why

Duluth Holdings Inc (NASDAQ:DLTH) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.85 and traded as low as $3.81. Duluth shares last traded at $3.90, with a volume of 41,199 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Duluth from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th.

Duluth Price Performance

The company has a market capitalization of $123.52 million, a P/E ratio of -8.48 and a beta of 1.34. The company’s 50-day moving average price is $3.85 and its two-hundred day moving average price is $3.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.63 and a quick ratio of 0.30.

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Thursday, August 29th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.10. Duluth had a negative net margin of 2.35% and a negative return on equity of 5.52%. The business had revenue of $141.62 million for the quarter, compared to the consensus estimate of $132.30 million. During the same period in the prior year, the company posted ($0.06) earnings per share. As a group, sell-side analysts expect that Duluth Holdings Inc will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Duluth

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Duluth by 1.8% in the first quarter. Vanguard Group Inc. now owns 858,973 shares of the company’s stock valued at $4,209,000 after acquiring an additional 15,018 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Duluth by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 797,190 shares of the company’s stock worth $2,942,000 after buying an additional 64,281 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in Duluth during the first quarter worth about $1,470,000. Marshall Wace LLP acquired a new stake in Duluth during the second quarter worth about $432,000. Finally, GSA Capital Partners LLP grew its stake in Duluth by 288.9% during the third quarter. GSA Capital Partners LLP now owns 104,763 shares of the company’s stock worth $394,000 after buying an additional 77,825 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

About Duluth

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.