Superior Group of Companies Inc (NASDAQ:SGC) Sees Large Increase in Short Interest

Superior Group of Companies Inc (NASDAQ:SGC) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totalling 53,400 shares, a growth of 145.0% from the February 27th total of 21,800 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 30,900 shares, the days-to-cover ratio is currently 1.7 days.

SGC has been the topic of several recent analyst reports. ValuEngine raised Superior Group of Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Barrington Research reissued a “buy” rating and issued a $20.00 target price on shares of Superior Group of Companies in a research note on Wednesday, February 19th. Finally, Zacks Investment Research cut Superior Group of Companies from a “buy” rating to a “hold” rating in a research note on Tuesday.

A number of institutional investors have recently bought and sold shares of SGC. First Wilshire Securities Management Inc. boosted its position in Superior Group of Companies by 31.7% during the 4th quarter. First Wilshire Securities Management Inc. now owns 360,214 shares of the textile maker’s stock valued at $4,877,000 after acquiring an additional 86,790 shares in the last quarter. Wedbush Securities Inc. boosted its position in Superior Group of Companies by 86.6% during the 4th quarter. Wedbush Securities Inc. now owns 27,602 shares of the textile maker’s stock valued at $374,000 after acquiring an additional 12,807 shares in the last quarter. Barclays PLC boosted its position in Superior Group of Companies by 103.0% during the 4th quarter. Barclays PLC now owns 10,717 shares of the textile maker’s stock valued at $145,000 after acquiring an additional 5,437 shares in the last quarter. UBS Group AG lifted its holdings in shares of Superior Group of Companies by 54.3% during the fourth quarter. UBS Group AG now owns 13,184 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 4,639 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Superior Group of Companies by 1.9% during the fourth quarter. Renaissance Technologies LLC now owns 227,600 shares of the textile maker’s stock valued at $3,082,000 after purchasing an additional 4,300 shares during the last quarter. 37.63% of the stock is currently owned by institutional investors and hedge funds.

Superior Group of Companies stock traded up $0.38 during trading hours on Thursday, hitting $9.36. 108,027 shares of the stock traded hands, compared to its average volume of 31,312. The firm’s 50-day moving average price is $10.70 and its two-hundred day moving average price is $13.47. The company has a current ratio of 3.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.66. The company has a market cap of $140.29 million, a PE ratio of 11.70, a PEG ratio of 0.71 and a beta of 0.14. Superior Group of Companies has a one year low of $6.10 and a one year high of $18.78.

Superior Group of Companies (NASDAQ:SGC) last posted its quarterly earnings data on Thursday, February 20th. The textile maker reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $108.41 million for the quarter, compared to analysts’ expectations of $89.79 million. Superior Group of Companies had a return on equity of 7.79% and a net margin of 3.20%. On average, sell-side analysts expect that Superior Group of Companies will post 0.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, February 11th. This represents a $0.40 annualized dividend and a yield of 4.27%. Superior Group of Companies’s payout ratio is 50.63%.

Superior Group of Companies Company Profile

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Uniforms and Related Products, Remote Staffing Solutions, and Promotional Products. The Uniforms and Related Products segment manufactures and sells a range of uniforms, corporate identity apparel, career apparel, and accessories for personnel of hospitals and health facilities; hotels; food service facilities; retail stores; general and special purpose industrial uses; commercial enterprises; airlines; public and private safety and security organizations; and miscellaneous service uses.

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