Stock Traders Buy High Volume of Duluth Put Options (NASDAQ:DLTH)

Duluth Holdings Inc (NASDAQ:DLTH) was the target of some unusual options trading activity on Wednesday. Stock traders bought 1,298 put options on the stock. This is an increase of approximately 1,781% compared to the average daily volume of 69 put options.

Shares of NASDAQ:DLTH traded down $1.13 during trading on Thursday, reaching $9.89. The company’s stock had a trading volume of 14,995 shares, compared to its average volume of 392,080. The company has a current ratio of 2.01, a quick ratio of 0.35 and a debt-to-equity ratio of 1.30. Duluth has a 12 month low of $8.36 and a 12 month high of $33.15. The firm’s 50 day simple moving average is $10.50 and its two-hundred day simple moving average is $15.74. The stock has a market capitalization of $298.30 million, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.30.

Duluth (NASDAQ:DLTH) last announced its quarterly earnings results on Thursday, June 13th. The company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.01). Duluth had a net margin of 2.82% and a return on equity of 10.97%. The business had revenue of $114.24 million during the quarter, compared to the consensus estimate of $114.08 million. During the same period in the previous year, the business posted ($0.02) EPS. The firm’s revenue was up 14.0% on a year-over-year basis. Research analysts anticipate that Duluth will post 0.71 EPS for the current fiscal year.

Several research analysts have commented on DLTH shares. Zacks Investment Research downgraded shares of Duluth from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. DA Davidson increased their price objective on shares of Duluth to $15.00 and gave the company a “neutral” rating in a report on Friday, June 14th. ValuEngine downgraded shares of Duluth from a “hold” rating to a “sell” rating in a report on Friday, June 14th. BidaskClub raised shares of Duluth from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Stifel Nicolaus dropped their price objective on shares of Duluth from $16.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.73.

Several large investors have recently made changes to their positions in DLTH. Marshall Wace North America L.P. bought a new position in shares of Duluth in the 2nd quarter valued at about $6,752,000. William Blair Investment Management LLC purchased a new stake in Duluth in the 1st quarter worth about $8,370,000. Atria Investments LLC purchased a new stake in Duluth in the 2nd quarter worth about $1,874,000. Marshall Wace LLP raised its position in Duluth by 1,997.5% in the 2nd quarter. Marshall Wace LLP now owns 321,877 shares of the company’s stock worth $4,374,000 after purchasing an additional 306,531 shares during the period. Finally, Oak Ridge Investments LLC raised its position in Duluth by 37.8% in the 1st quarter. Oak Ridge Investments LLC now owns 506,659 shares of the company’s stock worth $12,079,000 after purchasing an additional 139,110 shares during the period. 39.31% of the stock is owned by hedge funds and other institutional investors.

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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