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

Duluth Holdings Inc (NASDAQ:DLTH) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 773,200 shares, a decline of 12.4% from the July 15th total of 883,000 shares. Based on an average trading volume of 123,000 shares, the days-to-cover ratio is presently 6.3 days. Approximately 3.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Duluth

Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Duluth during the second quarter valued at approximately $72,000. Squarepoint Ops LLC acquired a new stake in shares of Duluth during the 2nd quarter worth approximately $138,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Duluth during the 2nd quarter worth approximately $226,000. Marshall Wace LLP purchased a new position in shares of Duluth during the 2nd quarter valued at approximately $432,000. Finally, Yarger Wealth Strategies LLC acquired a new position in shares of Duluth in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 24.39% of the company’s stock.

Duluth Stock Performance

DLTH traded down $0.04 during trading on Monday, reaching $3.30. 89,415 shares of the company’s stock were exchanged, compared to its average volume of 87,438. 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 has a 1 year low of $3.20 and a 1 year high of $7.73. The company’s fifty day simple moving average is $3.65 and its 200-day simple moving average is $4.22. The stock has a market capitalization of $104.61 million, a P/E ratio of -8.05 and a beta of 1.37.

Duluth (NASDAQ:DLTH) last issued its earnings results on Thursday, May 30th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.10). Duluth had a negative return on equity of 6.11% and a negative net margin of 2.09%. The business had revenue of $116.68 million for the quarter, compared to analysts’ expectations of $119.70 million. As a group, research analysts predict that Duluth will post -0.23 earnings per share for the current fiscal year.

About Duluth

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.