Investors Purchase Large Volume of Put Options on Duluth (NASDAQ:DLTH)

Duluth Holdings Inc (NASDAQ:DLTH) was the recipient of some unusual options trading on Wednesday. Investors acquired 1,325 put options on the company. This represents an increase of 1,970% compared to the average volume of 64 put options.

DLTH has been the topic of several research analyst reports. BidaskClub upgraded Duluth from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Zacks Investment Research raised Duluth from a “sell” rating to a “hold” rating in a research note on Monday, February 18th. DA Davidson lowered Duluth from a “buy” rating to a “neutral” rating and cut their price target for the company from $30.00 to $24.00 in a research note on Wednesday, March 6th. ValuEngine lowered Duluth from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, William Blair lowered Duluth from an “outperform” rating to a “market perform” rating and set a $18.90 price target on the stock. in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.38.

Shares of DLTH opened at $15.07 on Thursday. The company has a current ratio of 2.25, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. Duluth has a 12-month low of $14.59 and a 12-month high of $35.67. The firm has a market cap of $448.70 million, a PE ratio of 20.93, a PEG ratio of 0.81 and a beta of 0.33.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, April 4th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.11). Duluth had a net margin of 4.10% and a return on equity of 15.90%. The firm had revenue of $250.54 million for the quarter, compared to analyst estimates of $258.16 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that Duluth will post 0.76 EPS for the current fiscal year.

In other news, COO Allen L. Dittrich sold 6,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $14.94, for a total transaction of $89,640.00. Following the sale, the chief operating officer now owns 173,712 shares in the company, valued at $2,595,257.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 40.72% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Duluth by 2.2% in the first quarter. BlackRock Inc. now owns 640,548 shares of the company’s stock valued at $15,271,000 after buying an additional 14,061 shares during the period. Oak Ridge Investments LLC lifted its stake in Duluth by 37.8% in the first quarter. Oak Ridge Investments LLC now owns 506,659 shares of the company’s stock valued at $12,079,000 after buying an additional 139,110 shares during the period. Vanguard Group Inc. lifted its stake in Duluth by 4.1% in the third quarter. Vanguard Group Inc. now owns 483,916 shares of the company’s stock valued at $15,224,000 after buying an additional 18,858 shares during the period. William Blair Investment Management LLC acquired a new position in Duluth in the first quarter valued at about $8,370,000. Finally, Thrivent Financial for Lutherans lifted its stake in Duluth by 0.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 323,181 shares of the company’s stock valued at $8,154,000 after buying an additional 1,048 shares during the period. 42.22% of the stock is currently owned by hedge funds and other institutional investors.

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Duluth Company Profile

Duluth Holdings Inc sells casual wear, workwear, and accessories for men and women under the Duluth Trading brand in the United States. It provides shirts, pants, underwear, tanks, outerwear, footwear, accessories, and hard goods. The company offers its products under various trademarks, trade names, and service marks, including Alaskan Hardgear, Armachillo, Ballroom, Bucket Master, Cab Commander, Crouch Gusset, Dry on the Fly, Duluth Trading Co, Duluthflex, Fire Hose, Longtail T, No-Yank, No Polo Shirt, Wild Boar Mocs, and Buck Naked.

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