Pleasant Lake Partners LLC has recently announced that it has increased stake in Destination XL Group Inc (NASDAQ:DXLG) by 12.27%. After grabbing 2.14 million shares, the institutional investor is now in possession of 0.23 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 3.55% having worth around $8.92 million. Moreover, Dimensional Fund Advisors LP increased its share by 0.27 million to have a control over 1.69 million shares. And Royce & Associates LP raised its holdings to 0.19 million shares by acquiring 1.5 million shares or 2.48% of the stake.
Destination XL Group Inc (DXLG) concluded trading on 11/22/23 at a closing price of $4.01, with 0.44 million shares of worth about $1.75 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.25% during that period and on Wednesday the price saw a loss of about -2.43%. Currently the company’s common shares owned by public are about 62.60M shares, out of which, 54.92M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the DXLG stock and their offered price forecasts bring an average price target of $5.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $7.00 and could fall to a lowest price of $4.50. The stock’s current price level is 30.26% above of average price target set by the analysts, while a rise to estimated low would result in gain of 10.89% for the stock. However, touching the estimated high of $7.00 would mean a gain of 42.71% for the stock.
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 600,640 shares in 53 of the transactions. In 42 selling transactions, insiders dumped 898,619 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Destination XL Group Inc Vanguard Total Stock Market ETF is currently holding 1.65 million shares of worth totaling $6.84 million. The company recently came buying 0.0 shares which brought its stake up to 2.73% of the company’s outstanding shares. iShares Russell 2000 ETF sold 13393.0 shares, after which its hold over company’s outstanding shares shrunk to 2.21%, leaving 1.33 million shares with the mutual fund that have a worth of about $5.54 million. Vanguard Extended Market Index Fu, after buying 0.76 million shares, have now control over 1.26% of the stake in the company. It holds 0.0 shares of worth $3.16 million.
However, the stock later moved at a day high price of 4.1300, or with a loss of -2.43%. Stock saw a price change of -16.11% in past 5 days and over the past one month there was a price change of -1.72%. Year-to-date (YTD), DXLG shares are showing a performance of -40.59% which decreased to -40.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.68 but also hit the highest price of $7.57 during that period. The average intraday trading volume for Destination XL Group Inc shares is 465.46K. The stock is currently trading -7.99% below its 20-day simple moving average (SMA20), while that difference is down -7.90% for SMA50 and it goes to -17.46% lower than SMA200.
Pleasant Lake Partners LLC acquired 2.14 million shares of Destination XL Group Inc having value of about $8.92 million. Data submitted at the U.S SEC by Pleasant Lake Partners LLC revealed that the firm now holds 0.23 million shares in the company valued at close to $940020.19, or have control over 12.27% stake in the company. Destination XL Group Inc (NASDAQ: DXLG) currently have 62.60M outstanding shares and institutions hold larger chunk of about 83.10% of that. Holding of mutual funds in the company is about 59.73% while other institutional holders and individual stake holders have control over 60.92% and 21.90% of the stake respectively.
The stock has a current market capitalization of $241.32M and its 3Y-monthly beta is at 1.49. PE ratio of stock for trailing 12 months is 8.50, while it has posted earnings per share of $0.47 in the same period. Its PEG reads 0.57 and has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.06. 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 7.87% while standing at 5.31% over the month.
Analysts are in expectations that Destination XL Group Inc (DXLG) stock would likely to be making an EPS of $0.08 in the current quarter, while forecast for next quarter EPS is $0.03 and it is $0.3 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.08 which is $0.08 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 $0.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -44.61% while it is estimated to decrease by -36.46% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Destination XL Group Inc (DXLG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 2 Wall Street analysts, 1 recommended a “Buy” rating, while 1 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 Craig Hallum on November 20, 2023 offering a Hold rating for the stock and assigned a target price of $4.50 to it.
