Destination XL Group (NASDAQ:DXLG) Stock Price Down 0.8% – Should You Sell?

Destination XL Group, Inc. (NASDAQ:DXLG)’s stock price was down 0.8% during trading on Thursday . The stock traded as low as $0.62 and last traded at $0.6344. 81,627 shares traded hands during trading, an increase of 15% from the average daily volume of 70,857 shares. The stock had previously closed at $0.6398.

Wall Street Analyst Weigh In

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

Destination XL Group Trading Down 0.8%

The stock’s 50 day moving average is $0.68 and its 200-day moving average is $0.66. The company has a market cap of $35.06 million, a P/E ratio of -0.87 and a beta of 1.32.

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 analysts’ consensus estimates of ($0.06). The business had revenue of $103.33 million during the quarter, compared to analyst estimates 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

Several institutional investors have recently added to or reduced their stakes in DXLG. Nantahala Capital Management LLC raised its stake in shares of Destination XL Group by 74.8% in the third quarter. Nantahala Capital Management LLC now owns 4,505,000 shares of the company’s stock worth $5,902,000 after purchasing an additional 1,928,226 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Destination XL Group in the fourth quarter valued at about $1,589,000. Bridgeway Capital Management LLC raised its holdings in shares of Destination XL Group by 7.2% during the second quarter. Bridgeway Capital Management LLC now owns 413,038 shares of the company’s stock valued at $458,000 after acquiring an additional 27,651 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Destination XL Group during the third quarter valued at approximately $445,000. Finally, Cibc World Markets Corp purchased a new position in shares of Destination XL Group in the fourth quarter valued at approximately $313,000. 73.49% of the stock is currently owned by hedge funds and other 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.