Duluth Holdings Inc (NASDAQ:DLTH) Sees Significant Decrease in Short Interest

Duluth Holdings Inc (NASDAQ:DLTH) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 302,900 shares, a decline of 15.6% from the October 15th total of 358,900 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 109,900 shares, the days-to-cover ratio is currently 2.8 days.

Analyst Ratings Changes

Separately, StockNews.com downgraded Duluth from a “buy” rating to a “hold” rating in a report on Thursday, October 17th.

Duluth Price Performance

NASDAQ DLTH traded down $0.03 during trading on Monday, reaching $3.47. 5,749 shares of the company traded hands, compared to its average volume of 92,981. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.30 and a current ratio of 1.63. The stock’s 50 day moving average price is $3.81 and its two-hundred day moving average price is $3.81. The company has a market cap of $109.90 million, a price-to-earnings ratio of -7.59 and a beta of 1.34. Duluth has a 1-year low of $3.09 and a 1-year high of $5.82.

Duluth (NASDAQ:DLTH) last posted its earnings results on Thursday, August 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.10. Duluth had a negative net margin of 2.35% and a negative return on equity of 5.52%. The company had revenue of $141.62 million during the quarter, compared to analysts’ expectations of $132.30 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, analysts anticipate that Duluth will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DLTH. International Assets Investment Management LLC bought a new position in shares of Duluth in the second quarter valued at approximately $38,000. Yarger Wealth Strategies LLC bought a new position in shares of Duluth in the second quarter valued at approximately $53,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Duluth in the second quarter valued at approximately $72,000. Virtu Financial LLC bought a new position in shares of Duluth in the first quarter valued at approximately $73,000. Finally, Taylor & Morgan Wealth Management LLC raised its stake in shares of Duluth by 25.0% in 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. Institutional investors own 24.39% of the company’s stock.

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.