Duluth (NASDAQ:DLTH) Stock Price Down 6.3% - Here's What Happened

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) traded down 6.3% during trading on Thursday . The stock traded as low as $2.09 and last traded at $2.10. 10,912 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 42,857 shares. The stock had previously closed at $2.24.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on shares of Duluth in a research note on Tuesday, May 20th. They set a "hold" rating for the company.

Duluth Stock Performance

The firm's 50-day moving average price is $2.08 and its 200-day moving average price is $2.24. The stock has a market cap of $78.92 million, a P/E ratio of -1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.35 and a quick ratio of 0.22.

Duluth (NASDAQ:DLTH - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $102.70 million during the quarter, compared to the consensus estimate of $105.54 million. Duluth had a negative return on equity of 14.31% and a negative net margin of 8.68%. Sell-side analysts expect that Duluth Holdings Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of Duluth

A number of hedge funds have recently added to or reduced their stakes in DLTH. Northern Trust Corp lifted its position in shares of Duluth by 14.2% during the fourth quarter. Northern Trust Corp now owns 62,462 shares of the company's stock valued at $193,000 after buying an additional 7,769 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Duluth by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 843,672 shares of the company's stock valued at $2,607,000 after buying an additional 58,991 shares during the last quarter. Guardian Wealth Management Inc. purchased a new stake in shares of Duluth during the fourth quarter valued at about $96,000. Taylor & Morgan Wealth Management LLC lifted its position in shares of Duluth by 47.0% during the first quarter. Taylor & Morgan Wealth Management LLC now owns 39,687 shares of the company's stock valued at $69,000 after buying an additional 12,687 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Duluth by 9.3% during the first quarter. Empowered Funds LLC now owns 101,447 shares of the company's stock valued at $177,000 after acquiring an additional 8,597 shares in the last quarter. 24.39% of the stock is owned by hedge funds and other institutional investors.

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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