Destination XL Group (NASDAQ:DXLG) Releases Quarterly Earnings Results

Destination XL Group (NASDAQ:DXLG) released its quarterly earnings results on Friday. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01), MarketWatch Earnings reports. Destination XL Group had a net margin of 6.94% and a return on equity of 28.95%. The business had revenue of $119.19 million during the quarter. During the same quarter in the prior year, the firm posted $0.16 earnings per share.

Destination XL Group Trading Down 3.8 %

Shares of NASDAQ DXLG opened at $4.51 on Friday. The stock has a market cap of $272.36 million, a price-to-earnings ratio of 7.78 and a beta of 1.55. Destination XL Group has a 1-year low of $3.68 and a 1-year high of $7.57. The stock’s 50-day moving average is $4.37 and its 200 day moving average is $4.58.

Insider Activity at Destination XL Group

In other news, Director Jack Boyle acquired 13,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $4.25 per share, with a total value of $58,756.25. Following the acquisition, the director now owns 493,257 shares in the company, valued at approximately $2,096,342.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jack Boyle acquired 13,825 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average cost of $4.25 per share, with a total value of $58,756.25. Following the acquisition, the director now owns 493,257 shares in the company, valued at approximately $2,096,342.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Robert S. Molloy sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $4.34, for a total value of $86,800.00. Following the transaction, the general counsel now directly owns 240,409 shares in the company, valued at $1,043,375.06. The disclosure for this sale can be found here. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Destination XL Group

A number of large investors have recently bought and sold shares of DXLG. Wolf Hill Capital Management LP increased its stake in Destination XL Group by 35.9% in the 1st quarter. Wolf Hill Capital Management LP now owns 5,241,146 shares of the company’s stock worth $28,879,000 after purchasing an additional 1,384,516 shares during the period. Vanguard Group Inc. increased its stake in Destination XL Group by 21.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,962,535 shares of the company’s stock worth $16,057,000 after purchasing an additional 531,228 shares during the period. Chimera Capital Management LLC purchased a new position in Destination XL Group in the 4th quarter worth approximately $3,516,000. Norges Bank purchased a new position in Destination XL Group in the 4th quarter worth approximately $3,345,000. Finally, State Street Corp increased its stake in Destination XL Group by 419.3% in the 2nd quarter. State Street Corp now owns 599,689 shares of the company’s stock worth $2,033,000 after purchasing an additional 484,204 shares during the period. 76.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Destination XL Group in a report on Thursday, October 5th. They issued a “buy” rating on the stock.

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 and Canada. Its stores offer sportswear and dresswear; fashion-neutral items, including jeans, casual slacks, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.