38,251 Shares in Duluth Holdings Inc (DLTH) Acquired by Ironwood Investment Management LLC
Ironwood Investment Management LLC bought a new position in shares of Duluth Holdings Inc (NASDAQ:DLTH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,251 shares of the company’s stock, valued at approximately $683,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. bought a new position in shares of Duluth in the third quarter valued at $158,000. Rhumbline Advisers lifted its stake in shares of Duluth by 9.2% in the second quarter. Rhumbline Advisers now owns 10,553 shares of the company’s stock valued at $192,000 after buying an additional 885 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Duluth in the second quarter valued at $242,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Duluth in the second quarter valued at $360,000. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Duluth by 5.7% in the second quarter. TIAA CREF Investment Management LLC now owns 26,115 shares of the company’s stock valued at $476,000 after buying an additional 1,397 shares in the last quarter. 37.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William E. Ferry sold 28,400 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $18.88, for a total transaction of $536,192.00. Following the completion of the sale, the director now owns 2,032 shares in the company, valued at $38,364.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Allen L. Dittrich sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $18.86, for a total transaction of $282,900.00. Following the sale, the senior vice president now owns 211,221 shares of the company’s stock, valued at approximately $3,983,628.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,600 shares of company stock valued at $1,169,360. 70.38% of the stock is currently owned by corporate insiders.
Duluth (NASDAQ:DLTH) last announced its earnings results on Thursday, December 7th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.04). The firm had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $84.01 million. Duluth had a net margin of 4.16% and a return on equity of 15.23%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. sell-side analysts expect that Duluth Holdings Inc will post 0.67 EPS for the current year.
DLTH has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Duluth in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Duluth from a “hold” rating to a “sell” rating in a report on Monday, December 11th. BMO Capital Markets downgraded shares of Duluth from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 1st. DA Davidson set a $25.00 target price on shares of Duluth and gave the company a “buy” rating in a report on Monday, November 27th. Finally, BidaskClub upgraded shares of Duluth from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $22.00.
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Duluth Holdings Inc is a lifestyle brand of men’s and women’s casual wear, workwear and accessories. The Company offers a line of functional products, such as its Longtail T shirts, Buck Naked underwear and Fire Hose work pants. The Company’s segments include direct and retail. The direct segment includes revenues from the Company’s Website and catalogs.
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