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

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

Institutional Trading of G-III Apparel Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its position in G-III Apparel Group by 142.8% during the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock valued at $9,526,000 after buying an additional 206,993 shares during the period. Barclays PLC grew its position in shares of G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after acquiring an additional 198,647 shares during the period. Jane Street Group LLC increased its stake in shares of G-III Apparel Group by 269.9% in the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after purchasing an additional 183,246 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in G-III Apparel Group in the 3rd quarter worth about $3,671,000. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

Shares of GIII stock traded up $0.32 during trading hours on Friday, hitting $30.91. The company’s stock had a trading volume of 316,958 shares, compared to its average volume of 498,402. The stock has a market cap of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $36.18. The company has a 50 day moving average of $31.89 and a 200 day moving average of $29.64. 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 posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 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%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.78 earnings per share. On average, sell-side analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on GIII. Barclays upped their target price on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. KeyCorp increased their price objective on shares of 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. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Guggenheim lifted their price objective 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and a consensus 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.