Millrace Asset Group Inc. Raises Stock Holdings in Duluth Holdings Inc (NASDAQ:DLTH)

Millrace Asset Group Inc. increased its position in Duluth Holdings Inc (NASDAQ:DLTH) by 261.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,866 shares of the company’s stock after acquiring an additional 57,767 shares during the period. Millrace Asset Group Inc. owned approximately 0.27% of Duluth worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DLTH. Polar Asset Management Partners Inc. purchased a new position in Duluth in the 1st quarter worth $6,993,000. Rice Hall James & Associates LLC purchased a new position in shares of Duluth during the 2nd quarter valued at about $2,939,000. Bank of Montreal Can raised its stake in shares of Duluth by 2,507.3% during the 1st quarter. Bank of Montreal Can now owns 75,612 shares of the company’s stock valued at $1,245,000 after buying an additional 72,712 shares during the last quarter. BlackRock Inc. raised its stake in shares of Duluth by 6.8% during the 1st quarter. BlackRock Inc. now owns 878,126 shares of the company’s stock valued at $14,875,000 after buying an additional 55,788 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Duluth by 44.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 170,120 shares of the company’s stock valued at $2,882,000 after buying an additional 52,452 shares during the last quarter. Institutional investors own 27.30% of the company’s stock.

DLTH has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Duluth in a research note on Friday, September 3rd. Zacks Investment Research upgraded Duluth from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Monday, September 6th.

In related news, Director Stephen L. Schlecht sold 8,100 shares of Duluth stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $17.98, for a total value of $145,638.00. Following the sale, the director now directly owns 8,131,575 shares in the company, valued at approximately $146,205,718.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 37.86% of the company’s stock.

Shares of Duluth stock traded down $0.19 on Tuesday, hitting $13.99. The company’s stock had a trading volume of 2,464 shares, compared to its average volume of 229,002. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.41 and a current ratio of 1.98. Duluth Holdings Inc has a 1 year low of $10.31 and a 1 year high of $20.78. The firm has a fifty day moving average price of $15.79 and a 200-day moving average price of $16.24. The company has a market capitalization of $415.39 million, a price-to-earnings ratio of 14.17 and a beta of 0.83.

Duluth (NASDAQ:DLTH) last posted its quarterly earnings data on Wednesday, September 1st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.24. Duluth had a return on equity of 17.15% and a net margin of 4.79%. As a group, analysts forecast that Duluth Holdings Inc will post 0.74 EPS for the current year.

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.

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Institutional Ownership by Quarter for Duluth (NASDAQ:DLTH)

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