Short Interest in G-III Apparel Group, Ltd. (NASDAQ:GIII) Increases By 16.0%

G-III Apparel Group, Ltd. (NASDAQ:GIII) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,300,000 shares, an increase of 16.0% from the February 13th total of 4,570,000 shares. Currently, 13.9% of the company’s stock are short sold. Based on an average daily volume of 516,100 shares, the days-to-cover ratio is currently 10.3 days.

G-III Apparel Group Stock Up 2.3 %

NASDAQ:GIII traded up $0.60 during trading hours on Wednesday, reaching $26.73. The company’s stock had a trading volume of 479,285 shares, compared to its average volume of 515,866. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 7.02 and a beta of 2.09. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The business’s 50-day moving average is $29.11 and its 200-day moving average is $30.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to analysts’ expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. G-III Apparel Group’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Equities research analysts predict that G-III Apparel Group will post 4.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GIII shares. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Telsey Advisory Group lowered their price target on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, March 14th. KeyCorp boosted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. UBS Group lowered their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Guggenheim boosted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.00.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in G-III Apparel Group by 46.6% during the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock valued at $1,438,000 after acquiring an additional 14,016 shares during the period. Vestcor Inc boosted its holdings in G-III Apparel Group by 197.7% during the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. JPMorgan Chase & Co. boosted its holdings in G-III Apparel Group by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after acquiring an additional 59,718 shares during the period. Geode Capital Management LLC boosted its holdings in G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after acquiring an additional 11,196 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after acquiring an additional 472,862 shares during the period. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.