Short Interest in Duluth Holdings Inc (NASDAQ:DLTH) Decreases By 12.4%

Duluth Holdings Inc (NASDAQ:DLTH) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 773,200 shares, a decrease of 12.4% from the July 15th total of 883,000 shares. Based on an average daily volume of 123,000 shares, the days-to-cover ratio is presently 6.3 days. Currently, 3.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their price objective on Duluth from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, May 31st.

Institutional Trading of Duluth

A number of institutional investors and hedge funds have recently modified their holdings of the business. Taylor & Morgan Wealth Management LLC increased its position in shares of Duluth by 25.0% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 20,000 shares of the company’s stock valued at $74,000 after acquiring an additional 4,000 shares during the last quarter. Empowered Funds LLC grew its holdings in Duluth by 8.0% during the first quarter. Empowered Funds LLC now owns 78,029 shares of the company’s stock valued at $382,000 after purchasing an additional 5,775 shares during the period. International Assets Investment Management LLC bought a new position in Duluth during the second quarter valued at $38,000. Yarger Wealth Strategies LLC bought a new position in Duluth during the second quarter valued at $53,000. Finally, Virtu Financial LLC bought a new position in Duluth during the first quarter valued at $73,000. 24.39% of the stock is owned by hedge funds and other institutional investors.

Duluth Stock Performance

Shares of DLTH traded down $0.04 on Monday, reaching $3.30. 89,415 shares of the company’s stock traded hands, compared to its average volume of 87,438. The company has a current ratio of 1.79, a quick ratio of 0.37 and a debt-to-equity ratio of 0.27. The stock has a market cap of $104.61 million, a PE ratio of -8.20 and a beta of 1.37. The stock’s 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $4.23. Duluth has a 52-week low of $3.20 and a 52-week high of $7.73.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.10). The business had revenue of $116.68 million for the quarter, compared to analysts’ expectations of $119.70 million. Duluth had a negative net margin of 2.09% and a negative return on equity of 6.11%. On average, analysts forecast 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.