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

G-III Apparel Group, Ltd. (NASDAQ: GIII – Get a rating) saw a significant drop in interest in short positions in September. As of September 15, there was short interest totaling 3,820,000 shares, a decrease of 7.3% from the total of 4,120,000 shares as of August 31. Currently, 9.2% of the company’s shares are sold short. Based on an average daily volume of 574,800 shares, the day-to-cover ratio is currently 6.6 days.

Clothing Group G-III Institutional Trade

Hedge funds and other institutional investors have recently been buying and selling stocks. First Horizon Advisors Inc. acquired a new stake in G-III Apparel Group during the second quarter valued at approximately $35,000. Point72 Hong Kong Ltd acquired a new stake in G-III Apparel Group during the fourth quarter for a value of approximately $85,000. Counterpoint Mutual Funds LLC acquired a new stake in G-III Apparel Group during the first quarter valued at approximately $89,000. Lazard Asset Management LLC acquired a new stake in G-III Apparel Group during the second quarter valued at approximately $69,000. Finally, Gladius Capital Management LP acquired a new stake in G-III Apparel Group during the first quarter at a value of approximately $96,000. 88.68% of the shares are held by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of research firms have commented on GIII. Telsey Advisory Group reduced its price target on G-III Apparel Group from $25.00 to $22.00 and set a “market performance” rating for the company in a Thursday, September 8 research note. Wells Fargo & Company began covering the G-III apparel group in a research note on Monday, July 11. They issued an “equal weight” rating and a price target of $20.00 for the company. KeyCorp began covering the G-III Apparel group in a research note on Wednesday, July 20. They issued an “overweight” rating and a price target of $27.00 for the company. StockNews.com upgraded clothing group G-III from a “buy” to a “hold” rating in a Wednesday, June 8 research note. Finally, CL King reduced its price target on G-III Apparel Group from $45.00 to $26.00 in a Thursday, September 8 research note. Five investment analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.00.

Clothing Group G-III Stock Performance

Shares of NASDAQ:GIII traded down $0.12 during Friday’s trading, hitting $14.95. The stock recorded a trading volume of 761,987 shares, against an average volume of 937,982. G-III Apparel Group has a 12-month low of $14.37 and a 12-month high of 33.40 $. The stock has a market cap of $709.98 million, a price-to-earnings ratio of 3.32, a growth price-to-earnings ratio of 0.28, and a beta of 2.42. The company has a quick ratio of 0.94, a current ratio of 2.29 and a leverage ratio of 0.31. The stock has a 50-day simple moving average of $20.34 and a 200-day simple moving average of $23.34.

Clothing Group G-III (NASDAQ: GIII – Get a rating) last reported its quarterly earnings data on Wednesday, September 7. The textile maker reported earnings per share (EPS) of $0.39 for the quarter, missing the consensus estimate of $0.47 per ($0.08). The company posted revenue of $605.20 million in the quarter, compared to $592.53 million expected by analysts. G-III Apparel Group achieved a return on equity of 13.61% and a net margin of 7.26%. The company’s revenue for the quarter increased by 25.3% compared to the same quarter last year. In the same quarter a year earlier, the company had earned earnings per share of $0.39. On average, equity research analysts expect G-III Apparel Group to post earnings per share of 3.65 for the current fiscal year.

G-III Apparel Group Company Profile

(Get a rating)

G-III Apparel Group, Ltd. designs, sources and markets women’s and men’s clothing in the United States and around the world. 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 apparel; and women’s handbags, shoes, small leather goods, cold weather accessories and luggage.

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