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

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 4,190,000 shares, a decline of 6.5% from the December 15th total of 4,480,000 shares. Approximately 11.0% of the shares of the company are sold short. Based on an average daily volume of 447,900 shares, the days-to-cover ratio is presently 9.4 days.

Wall Street Analyst Weigh In

GIII has been the subject of several recent research reports. Telsey Advisory Group restated a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Guggenheim boosted their price objective on shares of 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. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday. Barclays upped their price target 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. Finally, KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.17.

Institutional Trading of G-III Apparel Group

Several hedge funds have recently modified their holdings of GIII. Vestcor Inc lifted its position 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 last quarter. Geode Capital Management LLC grew its stake in G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares during the last quarter. Sanctuary Advisors LLC increased its position in G-III Apparel Group by 8.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares in the last quarter. Jane Street Group LLC raised its stake in G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after buying an additional 183,246 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in G-III Apparel Group by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after acquiring an additional 59,718 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 1.0 %

Shares of NASDAQ GIII traded up $0.32 during mid-day trading on Friday, reaching $30.91. The company had a trading volume of 316,958 shares, compared to its average volume of 498,402. G-III Apparel Group has a 52 week low of $20.66 and a 52 week high of $36.18. The business’s 50-day moving average is $31.89 and its 200-day moving average is $29.64. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.11 and a beta of 2.09. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The company had revenue of $1.09 billion for 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%. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $2.78 earnings per share. Equities analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current year.

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.