Senior Vice President Richard Schlecht of Duluth Holdings Inc. has purchased 10,502 shares of the company’s stock, according to a filing with the U.S. Securities and Exchange Commission (SEC). The transaction took place on December 24, 2023, at an average price of $2.22 per share, amounting to a total investment of $23,314.44. Following this acquisition, Schlecht now holds a total of 352,233 shares in Duluth, valued at approximately $781,957.26.
This purchase signifies a 3.07% increase in Schlecht’s ownership stake, reflecting confidence in the company’s future prospects.
Duluth Holdings’ Market Performance
Shares of Duluth Holdings Inc. (NASDAQ: DLTH) experienced a slight decline on Monday, dropping by $0.04 to close at $2.07. The trading volume reached 192,236 shares, which is lower than the average volume of 368,272 shares. With a market capitalization of $76.03 million, Duluth faces challenges reflected in its price-to-earnings ratio of -2.38 and a beta of 1.69.
The stock’s performance has fluctuated significantly over the past year, with a fifty-two week low of $1.58 and a high of $4.66. Analysts note that the company has a quick ratio of 0.21, a current ratio of 1.29, and a debt-to-equity ratio of 0.33, indicating a need for careful financial management.
Recent Earnings Report
On December 16, 2023, Duluth announced its latest quarterly earnings, reporting an earnings per share (EPS) of ($0.23), which surpassed analysts’ expectations of ($0.56) by $0.33. The company generated revenue of $114.87 million during the quarter, although this fell short of the consensus estimate of $118.50 million. A year earlier, Duluth reported an EPS of ($0.41), highlighting ongoing challenges in achieving profitability.
Analysts project that Duluth Holdings may record an EPS of ($0.56) for the current fiscal year, reflecting ongoing operational difficulties.
Wall Street analysts have varied opinions on Duluth’s stock. Singular Research upgraded the company to a “strong-buy” rating in October, while Baird R W also increased its rating from “hold” to “strong-buy.” Conversely, Weiss Ratings maintained a “sell (d-)” rating on the shares. Currently, the stock holds an average rating of “Buy” with a target price of $5.00.
Duluth Holdings Inc. operates as a specialty retailer focusing on workwear, outdoor apparel, and accessories under the name Duluth Trading Co. Founded in 1989, the company has evolved from a regional catalog business into a recognized national retailer. Its product offerings include work pants, durable outerwear, performance-based shirts, and various specialized gear, targeting tradespeople and outdoor enthusiasts alike.
As Duluth continues to navigate a competitive retail landscape, the recent stock purchase by Richard Schlecht may signal a strategic investment in the company’s long-term potential.
