G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Update

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,350,000 shares, a growth of 23.6% from the August 31st total of 3,520,000 shares. Approximately 11.5% of the company’s stock are short sold. Based on an average daily trading volume, of 572,800 shares, the days-to-cover ratio is currently 7.6 days.

G-III Apparel Group Trading Down 1.2 %

Shares of G-III Apparel Group stock traded down $0.36 during trading on Monday, reaching $29.69. The company’s stock had a trading volume of 28,646 shares, compared to its average volume of 601,417. G-III Apparel Group has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 7.87 and a beta of 2.19. The firm’s 50-day moving average is $27.59 and its two-hundred day moving average is $27.68. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. On average, sell-side analysts anticipate that G-III Apparel Group will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays boosted their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. KeyCorp boosted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 22nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $28.80.

Insider Activity

In related news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC raised its holdings in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares in the last quarter. Quest Partners LLC bought a new position in G-III Apparel Group in the 4th quarter worth $56,000. Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter worth $78,000. Finally, Innealta Capital LLC bought a new position in G-III Apparel Group in the 2nd quarter worth $124,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.