Traders Purchase High Volume of Put Options on Duluth (NASDAQ:DLTH)

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Duluth Holdings Inc (NASDAQ:DLTH) saw some unusual options trading on Wednesday. Stock traders purchased 1,325 put options on the company. This is an increase of 1,970% compared to the average daily volume of 64 put options.

A number of research firms have recently issued reports on DLTH. Zacks Investment Research raised Duluth from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. BidaskClub raised Duluth from a “sell” rating to a “hold” rating in a research report on Monday. William Blair cut Duluth from an “outperform” rating to a “market perform” rating and set a $18.90 price objective for the company. in a research report on Friday, April 5th. Robert W. Baird raised Duluth from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Tuesday, May 7th. Finally, DA Davidson cut their price objective on Duluth from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Duluth presently has a consensus rating of “Hold” and an average price target of $25.38.

NASDAQ:DLTH opened at $15.07 on Thursday. The company has a market cap of $448.70 million, a P/E ratio of 20.93, a PEG ratio of 0.81 and a beta of 0.33. The company has a quick ratio of 0.39, a current ratio of 2.25 and a debt-to-equity ratio of 0.43. Duluth has a 1-year low of $14.59 and a 1-year high of $35.67.

Duluth (NASDAQ:DLTH) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.11). The firm had revenue of $250.54 million for the quarter, compared to analyst estimates of $258.16 million. Duluth had a return on equity of 15.90% and a net margin of 4.10%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, equities research analysts forecast that Duluth will post 0.76 earnings per share for the current year.

In other news, COO Allen L. Dittrich sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $14.94, for a total value of $89,640.00. Following the completion of the sale, the chief operating officer now directly owns 173,712 shares of the company’s stock, valued at $2,595,257.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 40.72% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its holdings in Duluth by 4,431.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,722 shares of the company’s stock worth $41,000 after purchasing an additional 1,684 shares during the last quarter. Legal & General Group Plc lifted its holdings in Duluth by 37.9% during the 4th quarter. Legal & General Group Plc now owns 1,801 shares of the company’s stock worth $45,000 after purchasing an additional 495 shares during the last quarter. Advisor Group Inc. lifted its holdings in Duluth by 219.9% during the 4th quarter. Advisor Group Inc. now owns 1,817 shares of the company’s stock worth $46,000 after purchasing an additional 1,249 shares during the last quarter. Quantamental Technologies LLC bought a new position in Duluth during the 1st quarter worth $48,000. Finally, Great West Life Assurance Co. Can increased its stake in Duluth by 298.1% during the 4th quarter. Great West Life Assurance Co. Can now owns 3,185 shares of the company’s stock worth $78,000 after acquiring an additional 2,385 shares during the period. 42.22% of the stock is owned by institutional investors and hedge funds.

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Duluth Company Profile

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.

See Also: Momentum Investing

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