Destination XL Group (NASDAQ:DXLG) Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of Destination XL Group (NASDAQ:DXLG) from a strong-buy rating to a buy rating in a report released on Friday.

Destination XL Group Price Performance

Shares of NASDAQ:DXLG traded up $0.20 during midday trading on Friday, reaching $3.64. The company had a trading volume of 248,924 shares, compared to its average volume of 191,122. The stock has a market capitalization of $211.08 million, a P/E ratio of 8.47 and a beta of 1.37. The stock’s fifty day moving average price is $3.38 and its 200-day moving average price is $3.86. Destination XL Group has a one year low of $3.12 and a one year high of $5.36.

Destination XL Group (NASDAQ:DXLG) last announced its quarterly earnings results on Thursday, March 21st. The company reported $0.10 earnings per share for the quarter. Destination XL Group had a return on equity of 21.84% and a net margin of 5.34%. The business had revenue of $137.14 million for the quarter.

Insider Activity

In other news, major shareholder Fund 1 Investments, Llc sold 225,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $3.15, for a total value of $708,750.00. Following the transaction, the insider now directly owns 5,691,577 shares of the company’s stock, valued at $17,928,467.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Destination XL Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXLG. Fund 1 Investments LLC increased its stake in shares of Destination XL Group by 144.3% during the 4th quarter. Fund 1 Investments LLC now owns 5,239,180 shares of the company’s stock worth $23,052,000 after purchasing an additional 3,094,183 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Destination XL Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,926,482 shares of the company’s stock worth $10,535,000 after buying an additional 22,809 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in shares of Destination XL Group by 1.9% during the 1st quarter. Hillsdale Investment Management Inc. now owns 584,860 shares of the company’s stock valued at $2,105,000 after acquiring an additional 10,900 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Destination XL Group by 1.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 323,434 shares of the company’s stock valued at $1,449,000 after acquiring an additional 3,410 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Destination XL Group by 26.6% in the 4th quarter. Panagora Asset Management Inc. now owns 307,811 shares of the company’s stock valued at $1,354,000 after acquiring an additional 64,583 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Destination XL Group Company Profile

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.