Destination XL Group (NASDAQ:DXLG) Announces Quarterly Earnings Results

Destination XL Group (NASDAQ:DXLG) released its earnings results on Thursday. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03), Zacks reports. Destination XL Group had a negative return on equity of 2.13% and a negative net margin of 1.19%.

Destination XL Group Stock Up 44.4%

Shares of NASDAQ:DXLG traded up $0.48 during midday trading on Thursday, reaching $1.56. The company’s stock had a trading volume of 1,876,746 shares, compared to its average volume of 232,732. The firm has a market capitalization of $84.06 million, a PE ratio of -17.33 and a beta of 0.93. Destination XL Group has a twelve month low of $0.88 and a twelve month high of $3.10. The stock has a fifty day moving average of $1.02 and a 200 day moving average of $1.17.

Analysts Set New Price Targets

DXLG has been the subject of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Destination XL Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded Destination XL Group from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.50.

Hedge Funds Weigh In On Destination XL Group

A number of institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC boosted 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 buying an additional 1,928,226 shares during the last quarter. Bridgeway Capital Management LLC raised its position in 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 in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Destination XL Group in the third quarter valued at approximately $445,000. Two Sigma Investments LP lifted its holdings in Destination XL Group by 64.8% in the third quarter. Two Sigma Investments LP now owns 136,703 shares of the company’s stock valued at $179,000 after acquiring an additional 53,773 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Destination XL Group in the 2nd quarter worth approximately $84,000. Hedge funds and other 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.