Copper Rock Capital Partners LLC Buys New Stake in Duluth Holdings Inc. (DLTH)
Copper Rock Capital Partners LLC acquired a new position in shares of Duluth Holdings Inc. (NASDAQ:DLTH) during the third quarter, Holdings Channel reports. The fund acquired 841,717 shares of the company’s stock, valued at approximately $22,373,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American International Group Inc. boosted its position in shares of Duluth Holdings by 14.1% in the second quarter. American International Group Inc. now owns 5,523 shares of the company’s stock worth $135,000 after buying an additional 684 shares in the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Duluth Holdings during the second quarter worth about $150,000. Nationwide Fund Advisors boosted its position in shares of Duluth Holdings by 24.5% in the second quarter. Nationwide Fund Advisors now owns 6,213 shares of the company’s stock worth $152,000 after buying an additional 1,223 shares in the last quarter. Swiss National Bank purchased a new position in shares of Duluth Holdings during the second quarter worth about $245,000. Finally, Prudential Financial Inc. purchased a new position in shares of Duluth Holdings during the second quarter worth about $266,000. Hedge funds and other institutional investors own 26.93% of the company’s stock.
Shares of Duluth Holdings Inc. (NASDAQ:DLTH) opened at 26.93 on Friday. Duluth Holdings Inc. has a 12 month low of $12.76 and a 12 month high of $31.79. The company has a market cap of $871.86 million and a price-to-earnings ratio of 42.88. The stock has a 50 day moving average of $28.43 and a 200-day moving average of $25.10.
Duluth Holdings (NASDAQ:DLTH) last issued its quarterly earnings data on Thursday, September 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business earned $65.80 million during the quarter. Duluth Holdings had a net margin of 5.96% and a return on equity of 24.89%. The company’s revenue was up 27.3% on a year-over-year basis. On average, analysts forecast that Duluth Holdings Inc. will post $0.70 EPS for the current year.
DLTH has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Duluth Holdings from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Monday, September 12th. Wunderlich initiated coverage on shares of Duluth Holdings in a research note on Tuesday, August 2nd. They issued a “buy” rating and a $30.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Duluth Holdings from $28.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $28.00) on shares of Duluth Holdings in a research note on Saturday, September 10th. Finally, Robert W. Baird lifted their price target on shares of Duluth Holdings from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, September 9th. Seven equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $31.00.
In other Duluth Holdings news, Director William E. Ferry sold 4,180 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $30.18, for a total transaction of $126,152.40. Following the completion of the sale, the director now owns 3,333 shares of the company’s stock, valued at approximately $100,589.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 70.71% of the company’s stock.
Duluth Holdings Company Profile
Duluth Holdings Inc (Duluth Trading) is a lifestyle brand of men’s and women’s casual wear, workwear and accessories sold through the Company’s own channels. The Company offers a line of functional products, such as Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company operates through two segments: direct and retail.
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