Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Duluth Holdings Inc (NASDAQ:DLTH)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Duluth Holdings Inc (NASDAQ:DLTH) by 142.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,151 shares of the company’s stock after buying an additional 134,520 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Duluth were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DLTH. Vanguard Group Inc. boosted its position in Duluth by 1.8% in the first quarter. Vanguard Group Inc. now owns 858,973 shares of the company’s stock worth $4,209,000 after purchasing an additional 15,018 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Duluth in the first quarter worth approximately $73,000. Cubist Systematic Strategies LLC bought a new stake in Duluth during the second quarter valued at approximately $226,000. GSA Capital Partners LLP increased its holdings in Duluth by 288.9% during the third quarter. GSA Capital Partners LLP now owns 104,763 shares of the company’s stock valued at $394,000 after buying an additional 77,825 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Duluth by 301.7% in the third quarter. International Assets Investment Management LLC now owns 41,172 shares of the company’s stock worth $155,000 after acquiring an additional 30,922 shares during the period. 24.39% of the stock is currently owned by hedge funds and other institutional investors.

Duluth Price Performance

NASDAQ DLTH opened at $3.89 on Thursday. Duluth Holdings Inc has a 52 week low of $3.09 and a 52 week high of $5.82. The company has a quick ratio of 0.30, a current ratio of 1.63 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $123.20 million, a P/E ratio of -8.46 and a beta of 1.34. The stock’s 50-day moving average price is $3.79 and its 200-day moving average price is $3.78.

Duluth (NASDAQ:DLTH) last issued its quarterly earnings results on Thursday, August 29th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.10. The business had revenue of $141.62 million for the quarter, compared to the consensus estimate of $132.30 million. Duluth had a negative net margin of 2.35% and a negative return on equity of 5.52%. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, equities research analysts predict that Duluth Holdings Inc will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.