Madison Asset Management LLC Takes $3.42 Million Position in Duluth Holdings Inc. $DLTH

Madison Asset Management LLC purchased a new stake in Duluth Holdings Inc. (NASDAQ:DLTH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 762,777 shares of the company’s stock, valued at approximately $3,417,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in Duluth during the 4th quarter valued at $52,000. Squarepoint Ops LLC purchased a new stake in shares of Duluth in the 3rd quarter worth $85,000. Barclays PLC grew its position in shares of Duluth by 32.2% during the 4th quarter. Barclays PLC now owns 58,043 shares of the company’s stock worth $121,000 after buying an additional 14,136 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 worth $152,000 after buying an additional 29,521 shares in the last quarter. Finally, Empowered Funds LLC increased its stake 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 buying an additional 8,597 shares during the period. Institutional investors own 24.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DLTH shares. Zacks Research downgraded Duluth from a “strong-buy” rating to a “hold” rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Duluth to a “hold” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings raised shares of Duluth from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Duluth Stock Up 0.8%

Shares of NASDAQ DLTH opened at $3.84 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.30 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $145.93 million, a PE ratio of -12.00 and a beta of 1.40. The stock’s fifty day simple moving average is $4.21 and its two-hundred day simple moving average is $3.42. Duluth Holdings Inc. has a 12-month low of $2.02 and a 12-month high of $5.09.

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Monday, June 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.19. The firm had revenue of $98.59 million during the quarter, compared to analyst estimates of $93.69 million. Duluth had a negative return on equity of 3.69% and a negative net margin of 2.00%. As a group, analysts expect that Duluth Holdings Inc. will post -0.26 EPS for the current fiscal year.

About Duluth

Duluth Holdings Inc operates as a specialty retailer of workwear, outdoor apparel and accessories for men and women under the Duluth Trading Co name. The company’s product line includes work pants, durable outerwear, performance-based shirts, base layers and specialized gear such as tool belts and backpacks. Duluth Trading Co focuses on combining practical functionality with style, targeting tradespeople, outdoor enthusiasts and anyone in need of rugged, long-lasting clothing.

Since its founding in 1989, Duluth Trading Co has grown from a regional catalog business into a national retail chain.