Short Interest in Superior Group of Companies, Inc. (NASDAQ:SGC) Increases By 15.8%

Superior Group of Companies, Inc. (NASDAQ:SGC) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 402,000 shares, a growth of 15.8% from the August 15th total of 347,200 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 149,900 shares, the days-to-cover ratio is presently 2.7 days.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SGC shares. Barrington Research decreased their target price on shares of Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, August 21st. DA Davidson reiterated a “buy” rating and issued a $24.00 target price on shares of Superior Group of Companies in a research note on Monday, June 24th. Finally, StockNews.com cut Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

Insider Transactions at Superior Group of Companies

In other news, insider Jake Himelstein acquired 2,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $13.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the insider now owns 40,825 shares in the company, valued at approximately $530,725. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jake Himelstein acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $13.00 per share, with a total value of $26,000.00. Following the completion of the acquisition, the insider now owns 40,825 shares of the company’s stock, valued at $530,725. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Loreen M. Spencer bought 3,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $13.20 per share, for a total transaction of $46,200.00. Following the completion of the acquisition, the director now directly owns 7,266 shares in the company, valued at $95,911.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 15,500 shares of company stock worth $206,700. 27.10% of the stock is currently owned by insiders.

Institutional Trading of Superior Group of Companies

Institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. grew its holdings in Superior Group of Companies by 1,312.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 117,944 shares of the textile maker’s stock valued at $1,948,000 after buying an additional 109,596 shares during the last quarter. American Century Companies Inc. increased its position in Superior Group of Companies by 81.0% during the 2nd quarter. American Century Companies Inc. now owns 230,235 shares of the textile maker’s stock worth $4,354,000 after purchasing an additional 103,051 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Superior Group of Companies by 83.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 192,088 shares of the textile maker’s stock worth $3,632,000 after purchasing an additional 87,481 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Superior Group of Companies in the 1st quarter valued at about $1,128,000. Finally, Empowered Funds LLC lifted its holdings in Superior Group of Companies by 369.4% in the 1st quarter. Empowered Funds LLC now owns 71,903 shares of the textile maker’s stock valued at $1,188,000 after purchasing an additional 56,584 shares in the last quarter. Hedge funds and other institutional investors own 33.75% of the company’s stock.

Superior Group of Companies Stock Performance

Shares of Superior Group of Companies stock traded down $0.09 on Monday, reaching $14.96. 33,601 shares of the stock were exchanged, compared to its average volume of 100,075. The company has a current ratio of 2.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $250.88 million, a PE ratio of 20.49, a PEG ratio of 1.96 and a beta of 1.42. Superior Group of Companies has a 1-year low of $7.37 and a 1-year high of $21.80. The business has a fifty day moving average price of $16.28 and a two-hundred day moving average price of $17.25.

Superior Group of Companies (NASDAQ:SGC) last issued its earnings results on Tuesday, August 6th. The textile maker reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Superior Group of Companies had a return on equity of 5.63% and a net margin of 2.02%. The business had revenue of $131.74 million for the quarter, compared to analysts’ expectations of $136.60 million. During the same period last year, the company posted $0.08 earnings per share. As a group, research analysts anticipate that Superior Group of Companies will post 0.74 earnings per share for the current fiscal year.

Superior Group of Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Saturday, August 17th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.74%. Superior Group of Companies’s dividend payout ratio is presently 76.71%.

About Superior Group of Companies

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.