Superior Group of Companies, Inc. (NASDAQ:SGC) Sees Large Growth in Short Interest

Superior Group of Companies, Inc. (NASDAQ:SGC) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 92,800 shares, a growth of 54.2% from the June 15th total of 60,200 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 124,200 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Superior Group of Companies by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 603,651 shares of the textile maker’s stock worth $9,972,000 after buying an additional 2,799 shares during the period. Aegis Financial Corp increased its position in Superior Group of Companies by 10.7% during the 4th quarter. Aegis Financial Corp now owns 421,036 shares of the textile maker’s stock worth $5,684,000 after buying an additional 40,749 shares during the period. North Star Investment Management Corp. grew its holdings in shares of Superior Group of Companies by 36.2% during the 4th quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker’s stock worth $5,275,000 after purchasing an additional 103,920 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Superior Group of Companies by 1,312.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 117,944 shares of the textile maker’s stock worth $1,948,000 after purchasing an additional 109,596 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Superior Group of Companies by 205.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 104,607 shares of the textile maker’s stock worth $1,728,000 after purchasing an additional 70,400 shares in the last quarter. Institutional investors own 33.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SGC shares. Singular Research reaffirmed a “buy” rating on shares of Superior Group of Companies in a research report on Tuesday, March 19th. Barrington Research restated an “outperform” rating and issued a $22.00 price target on shares of Superior Group of Companies in a research note on Tuesday, May 28th. StockNews.com upgraded Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Finally, DA Davidson restated a “buy” rating and issued a $24.00 price target on shares of Superior Group of Companies in a research note on Monday, June 24th.

Superior Group of Companies Stock Performance

SGC traded up $0.34 during trading hours on Friday, reaching $19.61. The company’s stock had a trading volume of 74,615 shares, compared to its average volume of 95,190. Superior Group of Companies has a 52 week low of $7.36 and a 52 week high of $21.80. The company’s 50-day moving average is $19.46 and its 200-day moving average is $16.52. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.98 and a current ratio of 3.03. The firm has a market cap of $328.47 million, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.46.

Superior Group of Companies (NASDAQ:SGC) last posted its quarterly earnings data on Tuesday, May 7th. The textile maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.17. The firm had revenue of $138.84 million for the quarter, compared to analysts’ expectations of $135.08 million. Superior Group of Companies had a return on equity of 6.00% and a net margin of 2.14%. On average, equities analysts forecast that Superior Group of Companies will post 0.75 EPS for the current year.

Superior Group of Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, May 17th. Superior Group of Companies’s payout ratio is 76.71%.

About Superior Group of Companies

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.