Duluth Holdings Inc (NASDAQ:DLTH) Sees Large Increase in Short Interest

Duluth Holdings Inc (NASDAQ:DLTH) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,060,000 shares, an increase of 10.3% from the May 31st total of 960,800 shares. Approximately 5.3% of the company’s shares are short sold. Based on an average trading volume of 72,100 shares, the days-to-cover ratio is currently 14.7 days.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price target on shares of Duluth from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, May 31st.

Duluth Price Performance

Shares of NASDAQ DLTH opened at $3.69 on Thursday. The stock has a market capitalization of $116.97 million, a price-to-earnings ratio of -9.00 and a beta of 1.37. Duluth has a 12 month low of $3.53 and a 12 month high of $7.88. The firm’s 50 day simple moving average is $4.04 and its 200-day simple moving average is $4.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.79 and a quick ratio of 0.37.

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). Duluth had a negative net margin of 2.09% and a negative return on equity of 6.11%. The company had revenue of $116.68 million during the quarter, compared to analyst estimates of $119.70 million. Analysts expect that Duluth will post -0.23 EPS for the current year.

Insider Activity

In other news, SVP Neala Shepherd sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $4.70, for a total value of $47,000.00. Following the transaction, the senior vice president now directly owns 122,587 shares in the company, valued at $576,158.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 35.32% of the company’s stock.

Institutional Investors Weigh In On Duluth

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Taylor & Morgan Wealth Management LLC purchased a new position in shares of Duluth during the 4th quarter worth $54,000. Silverlake Wealth Management LLC purchased a new stake in Duluth in the 4th quarter valued at about $58,000. Virtu Financial LLC purchased a new stake in Duluth in the 1st quarter valued at about $73,000. Brave Asset Management Inc. lifted its position in Duluth by 70.6% in the fourth quarter. Brave Asset Management Inc. now owns 29,000 shares of the company’s stock valued at $156,000 after buying an additional 12,000 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Duluth by 896.4% in the first quarter. BNP Paribas Financial Markets now owns 39,985 shares of the company’s stock valued at $196,000 after buying an additional 35,972 shares during the last quarter. Institutional investors and hedge funds own 24.39% of the company’s stock.

Duluth Company Profile

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.