Some Investing Thoughts On Destination XL Group Inc. (NASDAQ: DXLG)

DE Stock
DE Stock

Renaissance Technologies LLC has recently announced that it has increased stake in Destination XL Group Inc. (NASDAQ:DXLG) by 262.75%. After grabbing 1.33 million shares, the institutional investor is now in possession of 0.96 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 2.60% having worth around $0.46 million. Moreover, Relyea Zuckerberg Hanson LLC increased its share by 0.58 million to have a control over 0.64 million shares.

Destination XL Group Inc. (DXLG) concluded trading on 08/27/20 at a closing price of $0.45, with 64.03 million shares of worth about $28.82 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 56.71% during that period and on Thursday the price saw a gain of about 57.20%. Currently the company’s common shares owned by public are about 50.76M shares, out of which, 42.10M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 95 times over the past 12 months. They bought 1,643,969 shares in 80 of the transactions. In 15 selling transactions, insiders dumped 351,548 shares.

Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and RBC Small Cap Core Fund are the top 3 mutual funds which are holding stakes in Destination XL Group Inc. Vanguard Total Stock Market Index is currently holding 1.1 million shares of worth totaling $0.38 million. The company recently came buying 0.0 shares which brought its stake up to 2.15% of the company’s outstanding shares. RBC Small Cap Core Fund, after buying 0.42 million shares, have now control over 0.82% of the stake in the company. It holds 0.0 shares of worth $0.14 million.

Destination XL Group Inc. (NASDAQ: DXLG) started trading at $0.31, above $0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $0.45, or with a gain of 57.20%. Stock saw a price change of 56.71% in past 5 days and over the past one month there was a price change of 16.96%. Year-to-date (YTD), DXLG shares are showing a performance of -64.87% which decreased to -73.40% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.22 but also hit the highest price of $1.90 during that period. While comparing its average daily trading volume of 3.15 million shares, we see that about 64.03 million changed hands on the day. The stock is currently trading 44.54% above its 20-day simple moving average (SMA20), while that difference is up 0.16% for SMA50 and it goes to -38.08% lower than SMA200.

Renaissance Technologies LLC acquired 1.33 million shares of Destination XL Group Inc. having value of about $0.46 million. Data submitted at the U.S SEC by Renaissance Technologies LLC revealed that the firm now holds 0.96 million shares in the company valued at close to $432528.3, or have control over 262.75% stake in the company. Destination XL Group Inc. (NASDAQ: DXLG) currently have 50.76M outstanding shares and institutions hold larger chunk of about 52.30% of that. Holding of mutual funds in the company is about 56.33% while other institutional holders and individual stake holders have control over 9.79% and 40.68% of the stake respectively.

The stock has a current market capitalization of $23.44M and its 3Y-monthly beta is at 1.67. It has posted earnings per share of -$0.92 in the same period. It has Quick Ratio of 0.20 while making debt-to-equity ratio of 5.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DXLG, volatility over the week remained 19.66% while standing at 12.08% over the month.

Analysts are in expectations that Destination XL Group Inc. (DXLG) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter ESPS is $0 and it is $0 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 42.50%. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of 7.40% made by the stock over the past 5-years.

Analysts at 1 brokerage firms have issued recommendations for the Destination XL Group Inc. (DXLG)’s stock out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by FBR & Co. on July 11, 2017 offering an Outperform rating for the stock and assigned a target price of $3 to it. Coverage by Wunderlich stated Destination XL Group Inc. (DXLG) stock as a Buy in their note to investors on August 02, 2016, suggesting a price target of $6.50 for the stock. On March 21, 2016, Lake Street Reiterated their recommendations, while on December 18, 2014, CRT Capital Initiated their ratings for the stock with a price target of $6. Stock get a Buy rating from Brean Capital on November 07, 2014.


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