Cortina Asset Management LLC Takes $5.91 Million Position in Duluth Holdings Inc (DLTH)
Cortina Asset Management LLC acquired a new stake in Duluth Holdings Inc (NASDAQ:DLTH) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 248,471 shares of the company’s stock, valued at approximately $5,911,000.
Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in Duluth by 233.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,307 shares of the company’s stock valued at $174,000 after buying an additional 6,514 shares during the period. Millennium Management LLC acquired a new position in Duluth in the 4th quarter valued at approximately $224,000. Perkins Capital Management Inc. acquired a new position in Duluth in the 2nd quarter valued at approximately $321,000. US Bancorp DE increased its stake in Duluth by 72.3% in the 2nd quarter. US Bancorp DE now owns 22,861 shares of the company’s stock valued at $544,000 after buying an additional 9,595 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its stake in Duluth by 17.1% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 23,809 shares of the company’s stock valued at $566,000 after buying an additional 3,474 shares during the period. Hedge funds and other institutional investors own 43.47% of the company’s stock.
In related news, SVP Allen L. Dittrich sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $22.96, for a total value of $91,840.00. Following the transaction, the senior vice president now directly owns 196,186 shares in the company, valued at approximately $4,504,430.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas George Folliard sold 2,032 shares of the firm’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $20.42, for a total transaction of $41,493.44. Following the completion of the transaction, the director now owns 52,344 shares in the company, valued at $1,068,864.48. The disclosure for this sale can be found here. Corporate insiders own 70.38% of the company’s stock.
Duluth (NASDAQ:DLTH) last announced its quarterly earnings results on Tuesday, June 5th. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. Duluth had a net margin of 4.57% and a return on equity of 15.77%. The company had revenue of $100.20 million for the quarter, compared to analyst estimates of $100.23 million. During the same quarter in the prior year, the business posted $0.01 EPS. Duluth’s quarterly revenue was up 19.7% on a year-over-year basis. equities research analysts forecast that Duluth Holdings Inc will post 0.81 earnings per share for the current fiscal year.
Several research analysts have weighed in on DLTH shares. Zacks Investment Research upgraded shares of Duluth from a “sell” rating to a “hold” rating in a research note on Tuesday, May 22nd. ValuEngine lowered shares of Duluth from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Robert W. Baird reiterated a “buy” rating and issued a $30.00 price objective on shares of Duluth in a research note on Thursday, August 9th. BidaskClub lowered shares of Duluth from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 10th. Finally, William Blair upgraded shares of Duluth from a “market perform” rating to an “outperform” rating in a research note on Friday, June 29th. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $21.17.
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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