Wolf Hill Capital Cuts DXL Stake to 6.2%

TL;DR

**Wolf Hill Capital just trimmed its DXL stake to 6.2%, signaling a potential shift in their investment thesis.**

AI Summary

Wolf Hill Capital Management, LP, along with its affiliates Gary Lehrman and Wolf Hill General Partner, LLC, filed an amended Schedule 13G/A on February 13, 2024, disclosing their ownership of 2,000,000 shares of Destination XL Group Inc. common stock as of December 31, 2023. This represents a 6.2% stake in the company, a decrease from their previous filing. This matters to investors because it indicates a significant institutional investor has reduced their position, which could signal a change in their outlook on the company's future performance.

Why It Matters

A notable institutional investor, Wolf Hill Capital Management, LP, has reduced its ownership in Destination XL Group Inc., which could be interpreted by the market as a loss of confidence or a strategic portfolio adjustment.

Risk Assessment

Risk Level: medium — A reduction in a significant institutional holding can sometimes precede further selling pressure or reflect concerns about the company's fundamentals, posing a medium risk to current shareholders.

Analyst Insight

Investors should monitor Destination XL Group Inc.'s stock performance closely for any further institutional selling and consider if this reduction by Wolf Hill Capital Management, LP aligns with their own investment thesis for the company.

Key Numbers

• 2,000,000 — Shares Beneficially Owned (Represents the total number of common stock shares of Destination XL Group Inc. held by Wolf Hill Capital Management, LP and its affiliates as of December 31, 2023.)
• 6.2% — Percentage of Class (Indicates the percentage of Destination XL Group Inc.'s common stock beneficially owned by Wolf Hill Capital Management, LP and its affiliates as of December 31, 2023.)

Key Players & Entities

• Wolf Hill Capital Management, LP (company) — filing party and investment manager
• DESTINATION XL GROUP, INC. (company) — subject company of the filing
• Gary Lehrman (person) — group member associated with Wolf Hill
• Wolf Hill General Partner, LLC (company) — group member associated with Wolf Hill
• 2,000,000 (dollar_amount) — number of shares beneficially owned
• 6.2% (dollar_amount) — percentage of class beneficially owned
• December 31, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• The reduction in Wolf Hill Capital's stake could lead to increased selling pressure on DXL shares in the short term. (DESTINATION XL GROUP, INC.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• d778508dsc13ga.htm (SC 13G/A) — 91KB
• 0001193125-24-033614.txt ( ) — 92KB

From the Filing

SC 13G/A 1 d778508dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* DESTINATION XL GROUP INC. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 25065K104 (CUSIP Number) December 31, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended ( Act ) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes ). Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications: Shelley J. Rosensweig, Esq. Haynes and Boone, LLP 30 Rockefeller Plaza, 26th Floor New York, New York 10112 (212) 659-7300 SCHEDULE 13G CUSIP No. 25065K104 1 Names of Reporting Persons Wolf Hill Capital Management, LP 2 Check the appropriate box if a member of a Group (see instructions) (a)(b) 3 Sec Use Only 4 Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 0 6 Shared Voting Power 4,174,730 (1) 7 Sole Dispositive Power 0 8 Shared Dispositive Power 4,174,730 (1) 9 Aggregate Amount Beneficially Owned by Each Reporting Person 4,174,730 (1) 10 Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) 11 Percent of class represented by amount in row (9) 6.9% (2) 12 Type of Reporting Person (See Instructions) IA (1) Includes 511,407 shares held by certain separate managed accounts. See Item 2 for more information. (2) Based upon 60,182,080 shares of Common Stock of the Issuer outstanding as of November 8, 2023, as disclosed in the Issuers Quarterly Report on Form 10-Q, for the quarterly period ended October 28, 2023, that was filed on November 17, 2023, by the Issuer with the U.S. Securities and Exchange Commission (the SEC ). SCHEDULE 13G CUSIP No. 25065K104 1 Names of Reporting Persons Wolf Hill Partners, LP 2 Check the appropriate box if a member of a Group (see instructions) (a)(b) 3 Sec Use Only 4 Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 0 6 Shared Voting Power 3,663,323 7 Sole Dispositive Power 0 8 Shared Dispositive Power 3,663,323 9 Aggregate Amount Beneficially Owned by Each Reporting Person 3,663,323 10 Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) 11 Percent of class represented by amount in row (9) 6.1% (1) 12 Type of Reporting Person (See Instructions) PN (1) Based upon 60,182,080 shares of Common Stock of the Issuer outstanding as of November 8, 2023, as disclosed in the Issuers Quarterly Report on Form 10-Q, for the quarterly period ended October 28, 2023, that was filed on November 17, 2023, by the Issuer with the SEC. SCHEDULE 13G CUSIP No. G59665102 1 Names of Reporting Persons Wolf Hill General Partner, LLC 2 Check the appropriate box if a member of a Group (see instructions) (a)(b) 3 Sec Use Only 4 Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5 Sole Voting Power 0 6 Shared Voting Power 4,174,730 (1) 7 Sole Dispositive Power 0 8 Shared Dispositive Power 4,174,730 (1) 9 Aggregate Amount Beneficially Owned by Each Reporting Person 4,174,730 (1) 10 Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) 11 Percent of class represented by amount in row (9) 6.9% (2) 12 Type of Reporting Person (See Instructions) OO (1) Includes 511,407 shares held by certain separate managed accounts. See Item 2 for more information. (2) Based upon 60,182,080 shares of Common Stock of the Issuer outstanding as of November 8, 2023, as disclosed in the Issuers Quarterly Report on Form 10-Q, for the quarterly period ended October 28, 2023, that was filed on November 17, 2023, by the Issuer with the SEC. SCHEDULE 13G CUSIP No. G59665102 1 Names of Reporting Persons Gary Lehrman 2 Check the appropriate box if a member of a Group (see instructions) (a)(b) 3 Sec Use Only 4 Citizenship or Place of Organization

View Full Filing

View this SC 13G/A filing on SEC EDGAR