Duluth (NASDAQ:DLTH) Shares Down 6.3% - Should You Sell?

Key Points

• Duluth Holdings Inc. (NASDAQ:DLTH) experienced a 6.3% stock decline, trading as low as $2.09, with a significant decrease in trading volume, reaching only 10,912 shares during the day.
• In their latest earnings report, Duluth missed estimates, reporting a loss of ($0.32) earnings per share against a consensus estimate of ($0.30) and revenues of $102.7 million, lower than the estimated $105.54 million.
• Wall Street Zen initiated coverage on Duluth with a "hold" rating, indicating cautious sentiment regarding the company's performance amid recent stock fluctuations.

Duluth Holdings Inc. (NASDAQ:DLTH - Get Free Report)'s share price dropped 6.3% on Thursday . The stock traded as low as $2.09 and last traded at $2.10. Approximately 10,912 shares were traded during trading, a decline of 75% from the average daily volume of 42,857 shares. The stock had previously closed at $2.24.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on shares of Duluth in a research report on Tuesday, May 20th. They set a "hold" rating on the stock.

Duluth Stock Performance

The company has a market cap of $79.86 million, a PE ratio of -1.34 and a beta of 1.31. The business's 50-day moving average is $2.08 and its 200 day moving average is $2.22. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.22 and a current ratio of 1.35.

Duluth (NASDAQ:DLTH - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Duluth had a negative net margin of 8.68% and a negative return on equity of 14.31%. The firm had revenue of $102.70 million during the quarter, compared to analysts' expectations of $105.54 million. On average, equities research analysts predict that Duluth Holdings Inc. will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Duluth

A number of hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of Duluth during the 2nd quarter valued at about $50,000. Yarger Wealth Strategies LLC boosted its stake in shares of Duluth by 124.5% during the 2nd quarter. Yarger Wealth Strategies LLC now owns 32,419 shares of the company's stock valued at $68,000 after purchasing an additional 17,978 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Duluth by 50.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 87,615 shares of the company's stock valued at $152,000 after purchasing an additional 29,521 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Duluth by 9.3% during the 1st quarter. Empowered Funds LLC now owns 101,447 shares of the company's stock valued at $177,000 after purchasing an additional 8,597 shares in the last quarter. Finally, Taylor & Morgan Wealth Management LLC boosted its stake in shares of Duluth by 47.0% during the 1st quarter. Taylor & Morgan Wealth Management LLC now owns 39,687 shares of the company's stock valued at $69,000 after purchasing an additional 12,687 shares in the last quarter. Hedge funds and other 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.