Duluth Holdings Inc. (NASDAQ:DLTH) Short Interest Up 99.3% in September

Key Points

• Duluth Holdings Inc. experienced a significant increase in short interest, rising by 99.3% in September, with total short interest reaching 467,100 shares.
• The company reported $0.03 earnings per share for the quarter, exceeding analyst expectations and generating revenue of $131.72 million.
• Shares of Duluth recently received a rating upgrade from Robert W. Baird from "neutral" to "outperform," raising the target price from $2.00 to $7.00.

Duluth Holdings Inc. (NASDAQ:DLTH - Get Free Report) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totaling 467,100 shares, an increase of 99.3% from the August 31st total of 234,400 shares. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.8% of the shares of the stock are short sold. Currently, 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,200,000 shares, the days-to-cover ratio is currently 0.4 days.

Duluth Stock Performance

NASDAQ:DLTH opened at $4.02 on Friday. The firm has a market capitalization of $147.49 million, a PE ratio of -2.81 and a beta of 1.47. The firm has a 50-day moving average price of $2.90 and a 200 day moving average price of $2.28. The company has a quick ratio of 0.29, a current ratio of 1.44 and a debt-to-equity ratio of 0.32. Duluth has a 12-month low of $1.58 and a 12-month high of $4.66.

Duluth (NASDAQ:DLTH - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.08. Duluth had a negative net margin of 7.99% and a negative return on equity of 14.31%. The company had revenue of $131.72 million during the quarter, compared to analyst estimates of $124.03 million. Duluth has set its FY 2025 guidance at EPS. Research analysts anticipate that Duluth will post -0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Duluth in a research note on Saturday, September 27th. Robert W. Baird upgraded shares of Duluth from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $2.00 to $7.00 in a report on Friday, September 5th. Finally, Baird R W raised shares of Duluth from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Duluth currently has an average rating of "Moderate Buy" and an average target price of $7.00.

Insider Transactions at Duluth

In other Duluth news, CFO Heena Agrawal purchased 10,000 shares of the business's stock in a transaction on Friday, September 26th. The stock was bought at an average cost of $3.50 per share, for a total transaction of $35,000.00. Following the acquisition, the chief financial officer owned 248,093 shares of the company's stock, valued at approximately $868,325.50. The trade was a 4.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 42.94% of the company's stock.

Hedge Funds Weigh In On Duluth

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Duluth by 50.8% in the first quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company's stock valued at $152,000 after buying an additional 29,521 shares during the period. Empowered Funds LLC increased its position in shares of Duluth by 9.3% in the 1st quarter. Empowered Funds LLC now owns 101,447 shares of the company's stock valued at $177,000 after buying an additional 8,597 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Duluth in the 2nd quarter valued at $50,000. Finally, Yarger Wealth Strategies LLC increased its position in shares of Duluth by 124.5% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 32,419 shares of the company's stock valued at $68,000 after buying an additional 17,978 shares in the last quarter. 24.39% of the stock is currently owned by institutional investors and hedge funds.

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.

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