Renaissance Technologies LLC recently announced the acquisition of new stake in Destination XL Group Inc. (NASDAQ:DXLG). The institutional investor has increased its shareholding in the Consumer Cyclical company by 262.75% to 1.33 million shares with purchase of 0.96 million shares. This fresh investment now brings its stake to 2.60% valued currently at $0.46 million. In addition, Relyea Zuckerberg Hanson LLC raised its holdings by 0.58 million to 0.64 million shares.
With over 4.81 million Destination XL Group Inc. (DXLG) shares trading Monday and a closing price of $0.33 on the day, the dollar volume was approximately $1.59 million. The shares have shown a positive weekly performance of 18.79% and its price on 08/31/20 lost nearly -6.29%. Currently, there are 51.08M common shares owned by the public and among those 42.08M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for DXLG have a consensus price objective of $3.00. The analysts have set the share’s price value over the next 12 months at a high of $3.00 and a low of $3.00 should the stock experience a downside. But an upside of 89.0% will see the stock hit the forecast high price target while mean target price for the stock is $3.00.
Insiders at the company have transacted a total of 81 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 72 of these insider trades were purchases, accounting for 1,583,659 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 334,743 shares.
The top 3 mutual fund holders in Destination XL Group Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and RBC Small Cap Core Fund. Vanguard Total Stock Market Index owns 1.1 million shares of the company’s stock, all valued at over $0.38 million. RBC Small Cap Core Fund now owns shares totaling to 0.82% of the shares outstanding.
Shares of Destination XL Group Inc. (NASDAQ: DXLG) opened at $0.35, unchanged from a prior closing price of $0.35. However, the script later closed the day at $0.33, down -6.29%. The company’s stock has a 5-day price change of 18.79% and -12.75% over the past three months. DXLG shares are trading -74.02% year to date (YTD), with the 12-month market performance down to -81.42% lower. It has a 12-month low price of $0.22 and touched a high of $1.90 over the same period. Currently, 4.81 million shares have been traded, compared to an average intraday trading volume of 4.21 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.27%, -24.75%, and -53.48% respectively.
Institutional ownership of Destination XL Group Inc. (NASDAQ: DXLG) shares accounts for 52.30% of the company’s 51.08M shares outstanding. Mutual fund holders own 56.33%, while other institutional holders and individual stakeholders account for 9.77% and 40.71% respectively.
It has a market capitalization of $21.54M and a beta (3y monthly) value of 1.84. The earnings-per-share (ttm) stands at -$1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 26.46% over the week and 13.63% over the month.
Analysts forecast that Destination XL Group Inc. (DXLG) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for 2022. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.04 a year ago. EPS should grow at an annualized rate of 15.00% over the next five years, compared to 7.40% over the past 5-year period.
Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DXLG, a number of firms have released research notes about the stock. FBR & Co. stated their Outperform rating for the stock in a research note on July 11, 2017, with the firm’s price target at $3. Wunderlich coverage for the Destination XL Group Inc. (DXLG) stock in a research note released on August 02, 2016 offered a Buy rating with a price target of $6.50. Lake Street was of a view on March 21, 2016 that the stock is Buy, while CRT Capital gave the stock Buy rating on December 18, 2014, issuing a price target of $6. Brean Capital on their part issued Buy rating on November 07, 2014.