Short Interest in G-III Apparel Group, Ltd. (NASDAQ:GIII) Rises By 10.1%

G-III Apparel Group, Ltd. (NASDAQ:GIII) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 4,560,000 shares, an increase of 10.1% from the January 15th total of 4,140,000 shares. Based on an average daily trading volume, of 474,900 shares, the days-to-cover ratio is currently 9.6 days. Approximately 12.1% of the shares of the company are short sold.

G-III Apparel Group Stock Down 1.9 %

Shares of GIII opened at $29.72 on Friday. The stock has a 50 day moving average price of $32.05 and a 200 day moving average price of $30.26. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.80 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.78 earnings per share. Equities research analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

A number of large investors have recently made changes to their positions in GIII. Guidance Capital Inc. boosted its stake in G-III Apparel Group by 2.0% during the third quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock worth $563,000 after buying an additional 331 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock valued at $500,000 after acquiring an additional 631 shares during the last quarter. Vestcor Inc grew its holdings in shares of G-III Apparel Group by 2.1% in the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock valued at $1,043,000 after purchasing an additional 665 shares during the period. Atria Investments Inc increased its position in G-III Apparel Group by 9.1% during the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after purchasing an additional 673 shares during the last quarter. Finally, CWM LLC raised its stake in G-III Apparel Group by 46.8% during the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock worth $85,000 after purchasing an additional 885 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIII has been the subject of a number of analyst reports. Barclays upped their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 18th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. KeyCorp boosted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Guggenheim increased their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $33.17.

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.