Destination XL Group, Inc. (NASDAQ:DXLG) Sees Significant Growth in Short Interest

Destination XL Group, Inc. (NASDAQ:DXLG) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 4,510,000 shares, a growth of 5.4% from the March 15th total of 4,280,000 shares. Approximately 8.8% of the company’s stock are short sold. Based on an average daily volume of 310,900 shares, the short-interest ratio is currently 14.5 days.

Hedge Funds Weigh In On Destination XL Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DXLG. Bank of New York Mellon Corp raised its stake in shares of Destination XL Group by 54.8% during the 1st quarter. Bank of New York Mellon Corp now owns 55,101 shares of the company’s stock valued at $269,000 after buying an additional 19,513 shares during the last quarter. Citigroup Inc. raised its stake in shares of Destination XL Group by 47.4% during the 1st quarter. Citigroup Inc. now owns 98,400 shares of the company’s stock valued at $480,000 after buying an additional 31,651 shares during the last quarter. BlackRock Inc. raised its stake in shares of Destination XL Group by 0.6% during the 1st quarter. BlackRock Inc. now owns 459,033 shares of the company’s stock valued at $2,240,000 after buying an additional 2,744 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Destination XL Group during the 1st quarter valued at about $402,000. Finally, Vanguard Group Inc. raised its stake in shares of Destination XL Group by 9.4% during the 1st quarter. Vanguard Group Inc. now owns 2,294,447 shares of the company’s stock valued at $11,197,000 after buying an additional 196,420 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Destination XL Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th.

Destination XL Group Stock Performance

NASDAQ DXLG remained flat at $3.27 on Wednesday. 29,982 shares of the company’s stock traded hands, compared to its average volume of 313,067. Destination XL Group has a fifty-two week low of $3.18 and a fifty-two week high of $5.36. The business has a 50-day moving average of $3.68 and a two-hundred day moving average of $4.04. The company has a market capitalization of $189.63 million, a PE ratio of 7.60 and a beta of 1.30.

Destination XL Group (NASDAQ:DXLG) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.10 EPS for the quarter. The firm had revenue of $137.14 million during the quarter. Destination XL Group had a return on equity of 21.84% and a net margin of 5.34%.

Destination XL Group Company Profile

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. The company's stores offer sportswear and dresswear; fashion-neutral items, including jeans, casual pants, T-shirts, polo shirts, dress shirts, and suit separates; and casual clothing.