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

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the target of a significant increase in short interest in 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. Based on an average trading volume of 516,100 shares, the days-to-cover ratio is currently 10.3 days. Currently, 13.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on GIII. KeyCorp increased their target price on shares of 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. Telsey Advisory Group cut their target price on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, March 14th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Barclays cut their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday. Finally, Guggenheim increased their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Down 0.3 %

G-III Apparel Group stock opened at $26.65 on Friday. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 6.99 and a beta of 2.09. The firm’s fifty day moving average price is $29.00 and its two-hundred day moving average price is $30.46. 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 released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same period last year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. AlphaQuest LLC bought a new position in shares of G-III Apparel Group during the fourth quarter valued at about $49,000. Quarry LP bought a new position in shares of G-III Apparel Group during the third quarter valued at about $63,000. Smartleaf Asset Management LLC lifted its position in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of G-III Apparel Group during the fourth quarter valued at about $68,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in shares of G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares in the last quarter. 92.13% of the stock is 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.