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 the month of 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. Currently, 13.9% of the shares of the company are sold short. Based on an average trading volume of 516,100 shares, the short-interest ratio is currently 10.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter worth about $49,000. Smartleaf Asset Management LLC lifted its stake in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in G-III Apparel Group during the 4th quarter valued at about $68,000. Quarry LP bought a new position in G-III Apparel Group during the 3rd quarter worth approximately $63,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in G-III Apparel Group by 93.2% in 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 during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

GIII has been the subject of a number of research reports. Barclays reduced their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday. Guggenheim lifted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Telsey Advisory Group reduced their price target on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. Finally, KeyCorp increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Price Performance

Shares of GIII traded up $0.38 during mid-day trading on Thursday, reaching $27.11. 24,991 shares of the stock traded hands, compared to its average volume of 513,893. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 7.11 and a beta of 2.09. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18. The firm has a fifty day moving average price of $29.11 and a 200 day moving average price of $30.49. 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 announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. 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 for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, equities research analysts predict 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.