Short Interest in Destination XL Group, Inc. (NASDAQ:DXLG) Drops By 15.0%

Destination XL Group, Inc. (NASDAQ:DXLG) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 3,120,000 shares, a decrease of 15.0% from the March 15th total of 3,670,000 shares. Currently, 6.5% of the company’s stock are sold short. Based on an average daily trading volume, of 228,000 shares, the days-to-cover ratio is presently 13.7 days.

Institutional Trading of Destination XL Group

Large investors have recently modified their holdings of the company. Barclays PLC grew its position in Destination XL Group by 270.2% in the 3rd quarter. Barclays PLC now owns 70,343 shares of the company’s stock worth $207,000 after purchasing an additional 51,341 shares during the last quarter. State Street Corp increased its position in Destination XL Group by 0.6% in the 3rd quarter. State Street Corp now owns 1,058,907 shares of the company’s stock valued at $3,113,000 after acquiring an additional 6,300 shares during the period. American Century Companies Inc. raised its stake in Destination XL Group by 6.0% during the 4th quarter. American Century Companies Inc. now owns 1,508,579 shares of the company’s stock valued at $4,058,000 after acquiring an additional 86,043 shares in the last quarter. Intech Investment Management LLC boosted its position in Destination XL Group by 84.0% during the 4th quarter. Intech Investment Management LLC now owns 23,922 shares of the company’s stock worth $64,000 after acquiring an additional 10,923 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Destination XL Group in the fourth quarter worth $76,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Destination XL Group Stock Up 9.7 %

Shares of DXLG stock opened at $1.03 on Monday. The business has a 50 day moving average of $1.77 and a two-hundred day moving average of $2.37. The company has a market cap of $55.13 million, a P/E ratio of 6.87 and a beta of 0.87. Destination XL Group has a 52 week low of $0.92 and a 52 week high of $3.93.

Destination XL Group (NASDAQ:DXLG) last issued its quarterly earnings data on Thursday, March 20th. The company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. Destination XL Group had a return on equity of 7.21% and a net margin of 1.98%. The firm had revenue of $119.20 million during the quarter, compared to the consensus estimate of $120.93 million. Analysts expect that Destination XL Group will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price objective on shares of Destination XL Group from $3.00 to $2.50 and set a “buy” rating for the company in a report on Friday, March 21st.

About Destination XL Group

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.