Duluth (NASDAQ:DLTH) Share Price Passes Below 50 Day Moving Average – Here’s Why

Duluth Holdings Inc. (NASDAQ:DLTH) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.29 and traded as low as $2.15. Duluth shares last traded at $2.19, with a volume of 25,830 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on DLTH. Robert W. Baird set a $5.00 price objective on shares of Duluth in a research report on Wednesday, December 17th. Wall Street Zen raised shares of Duluth to a “hold” rating in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Duluth presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Duluth Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.29 and a quick ratio of 0.21. The business has a 50-day moving average of $2.29 and a 200-day moving average of $2.79. The company has a market capitalization of $80.44 million, a P/E ratio of -2.52 and a beta of 1.85.

Duluth (NASDAQ:DLTH) last announced its earnings results on Tuesday, December 16th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.33. Duluth had a negative net margin of 5.03% and a negative return on equity of 11.51%. The business had revenue of $114.87 million for the quarter, compared to the consensus estimate of $118.50 million. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. On average, sell-side analysts anticipate that Duluth Holdings Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Richard W. Schlecht acquired 18,052 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was bought at an average price of $2.17 per share, for a total transaction of $39,172.84. Following the acquisition, the senior vice president directly owned 341,731 shares of the company’s stock, valued at $741,556.27. This represents a 5.58% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 42.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Duluth

Institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Duluth in the fourth quarter valued at approximately $52,000. Barclays PLC lifted its holdings in shares of Duluth by 32.2% in the 4th quarter. Barclays PLC now owns 58,043 shares of the company’s stock worth $121,000 after buying an additional 14,136 shares during the period. Taylor & Morgan Wealth Management LLC grew its position in shares of Duluth by 29.2% during the 4th quarter. Taylor & Morgan Wealth Management LLC now owns 31,000 shares of the company’s stock worth $64,000 after buying an additional 7,000 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Duluth during the third quarter valued at $85,000. Finally, Blair William & Co. IL increased its stake in shares of Duluth by 17.2% during the third quarter. Blair William & Co. IL now owns 113,510 shares of the company’s stock valued at $444,000 after buying an additional 16,678 shares during the period. 24.39% of the stock is owned by hedge funds and other institutional investors.

About Duluth

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company’s product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.