Destination XL Group (NASDAQ:DXLG) Stock Price Down 5.7% – Here’s Why

Destination XL Group, Inc. (NASDAQ:DXLG)’s stock price dropped 5.7% on Tuesday . The stock traded as low as $0.5525 and last traded at $0.5538. Approximately 73,486 shares changed hands during trading, a decline of 37% from the average daily volume of 115,903 shares. The stock had previously closed at $0.5870.

Destination XL Group Price Performance

The firm has a 50-day simple moving average of $0.78 and a 200 day simple moving average of $1.02. The company has a market capitalization of $30.27 million, a PE ratio of -3.96 and a beta of 1.40.

Destination XL Group (NASDAQ:DXLG) last issued its earnings results on Thursday, December 11th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $101.88 million during the quarter, compared to analysts’ expectations of $104.55 million. Destination XL Group had a negative return on equity of 3.81% and a negative net margin of 1.73%. Equities research analysts expect that Destination XL Group, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DXLG. Nantahala Capital Management LLC acquired a new stake in Destination XL Group during the 2nd quarter valued at $2,860,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Destination XL Group during the fourth quarter valued at about $1,589,000. Cibc World Markets Corp purchased a new stake in shares of Destination XL Group during the fourth quarter worth about $313,000. CIBC Bancorp USA Inc. acquired a new position in shares of Destination XL Group in the third quarter worth about $445,000. Finally, ING Groep NV purchased a new position in Destination XL Group in the third quarter valued at about $393,000. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Destination XL Group Company Profile

Destination XL Group, Inc (NASDAQ: DXLG) is a specialty retailer focused on big and tall men’s apparel and accessories. Operating under its flagship DXL and Casual Male XL banners, the company offers an assortment of men’s clothing in larger sizes, including suits, dress shirts, casual wear, outerwear, activewear and underwear. In addition to its brick-and-mortar stores, Destination XL maintains a significant omnichannel presence through its e-commerce platform and direct mail catalog, enabling customers to shop for extended-size apparel across North America.

Founded in 1976 and headquartered in Canton, Massachusetts, the company began its operations as Casual Male XL and over time evolved its retail concept to the Destination XL format, which emphasizes an elevated, destination-style shopping experience.