Insider Buyer Finds his "Destination"

02/09/2017 7:00 am EST

Focus: STOCKS

Stephen Biggar

Director, Product Strategy, Argus Research Corporation

Vickers Stock Research, Argus’ sister company, calculates proprietary Sell/Buy Ratios using data from recent Form-4 filings (through which insiders register purchases and sales of their stock with the SEC), notes Stephen Biggar of Argus Research.

Director and Beneficial Owner Willem Mesdag at Destination XL Group Inc. (DXLG) continues to increase his holdings. Since January 11, he has added a total of 100,000 shares at prices ranging from $3.425-$3.75.

The purchases increased his total reported holdings to 7,847,469 shares or 15.8% of the shares outstanding.

While Mr. Mesdag has been an avid purchaser of DXLG shares since August, his rate of purchasing has increased significantly since the sharp sell-off in late December. His average purchase was approximately 15,000 shares between August of 2016 and December of 2016.

Following the sell-off, which began in early January, he purchased a total of 100,000 shares and nearly doubled the size of his average purchase to 33,333 shares.

Destination XL describes itself as “the largest omni-channel specialty retailer of big & tall men’s apparel,” with store locations throughout the United States and London, England.

The retailer operates under five brands and also operates e-commerce sites. The shares are rated BUY by the four analysts who cover the company, and the average 12-month target price is $7.50.

Mesdag’s holdings are through Red Mountain Capital Partners LLC, for which he is the president, sole executive officer, sole director and sole shareholder.

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