Destination XL Group Inc (NASDAQ:DXLG) Sees Large Drop in Short Interest

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Destination XL Group Inc (NASDAQ:DXLG) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,140,000 shares, a decline of 26.5% from the October 31st total of 1,550,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average daily trading volume, of 83,000 shares, the short-interest ratio is currently 13.7 days.

Separately, ValuEngine raised Destination XL Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.

Shares of DXLG traded down $0.01 during trading hours on Wednesday, hitting $1.29. The company had a trading volume of 17,226 shares, compared to its average volume of 29,181. The firm has a fifty day moving average price of $1.44 and a 200-day moving average price of $1.63. The company has a debt-to-equity ratio of 3.65, a current ratio of 0.90 and a quick ratio of 0.13. Destination XL Group has a 52-week low of $1.19 and a 52-week high of $2.81.

Destination XL Group (NASDAQ:DXLG) last issued its earnings results on Friday, November 22nd. The specialty retailer reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.07). Destination XL Group had a negative return on equity of 10.75% and a negative net margin of 3.68%. The business had revenue of $106.58 million during the quarter.

In other Destination XL Group news, Director Seymour Holtzman bought 25,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of $1.61 per share, for a total transaction of $40,250.00. Following the acquisition, the director now owns 4,332,846 shares in the company, valued at approximately $6,975,882.06. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Mitchell Presser bought 103,000 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were acquired at an average price of $13.56 per share, for a total transaction of $1,396,680.00. In the last 90 days, insiders have bought 246,042 shares of company stock worth $1,597,998. Company insiders own 29.10% of the company’s stock.

A hedge fund recently raised its stake in Destination XL Group stock. BlackRock Inc. boosted its holdings in Destination XL Group Inc (NASDAQ:DXLG) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,005,909 shares of the specialty retailer’s stock after buying an additional 16,461 shares during the quarter. BlackRock Inc. owned 2.02% of Destination XL Group worth $1,771,000 at the end of the most recent quarter. 63.04% of the stock is currently owned by institutional investors.

About Destination XL Group

Destination XL Group, Inc, together with its subsidiaries, operates as a specialty retailer of big and tall men's apparel. Its stores offer sportswear and dress wear; shoes; accessories, such as belts, ties, and socks; fashion-neutral items, including jeans, casual slacks, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.

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