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Top Investors Finding Destination XL Group Inc (DXLG) Is A Good Place For Their Money

As we already know from media reports and hedge fund investor letters, many hedge funds lost money in the third quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with healthcare among them. Nevertheless, most investors decided to stick to their bullish theses and their long-term focus allows us to profit from the recent declines. In particular, let’s take a look at what hedge funds think about Destination XL Group Inc (NASDAQ:DXLG) in this article.

Hedge fund interest in Destination XL Group Inc (NASDAQ:DXLG) shares was flat during the last quarter, residing in 13 portfolios of investors in Insider Monkey’s database. This is usually a negative indicator. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Angie’s List Inc (NASDAQ:ANGI), Reading International, Inc. (NASDAQ:RDI), and Everyday Health Inc (NYSE:EVDY) to gather more data points.

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At the moment there are a large number of formulas shareholders employ to size up their stock investments. A couple of the most innovative formulas are hedge fund and insider trading indicators. We have shown that, historically, those who follow the best picks of the elite investment managers can trounce the market by a superb margin (see the details here).

With all of this in mind, we’re going to view the fresh action regarding Destination XL Group Inc (NASDAQ:DXLG).

Hedge fund activity in Destination XL Group Inc (NASDAQ:DXLG)

Heading into Q4, a total of 13 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from the previous quarter. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their stakes meaningfully (or had already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Red Mountain Capital, managed by Willem Mesdag, holds the biggest position in Destination XL Group Inc (NASDAQ:DXLG). Red Mountain Capital has a $43.7 million position in the stock, comprising 11.6% of its 13F portfolio. The second-largest stake is held by Glenhill Advisors, led by Glenn J. Krevlin, holding a $34.8 million position; the fund has 2.7% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors with similar optimism contain Phil Frohlich’s Prescott Group Capital Management, Steve Tannenbaum’s Greenwood Investments, and George McCabe’s Portolan Capital Management.

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