The short interest of G-III Apparel Group, Ltd. (NASDAQ:GIII) down 7.6%.

The total number of short positions in G-III Apparel Group, Ltd. experienced a significant decline in October, contributing to the positive performance of the company (NASDAQ: GIII). As of October 15, a total of 3,150,000 shares were available for sale via a short trade. This is down 76% from the previous month’s total of 3,410,000 shares that were available for short selling. The coverage day ratio is currently 5.3 days. This number was obtained by considering that the daily volume of stock transactions is, on average, 591,400. Short sales represented 7.6% of the total number of shares of the company at the time they were made.

G-III Apparel Group‘s latest quarterly earnings report, trading under the NASDAQ ticker symbol: GIII, was released on September 7. The textile maker reported earnings per share for the quarter of $0.39, $0.08 shy of analysts’ consensus earnings forecast of $0.47. G-III Apparel Group’s return on equity was 13.61%, while the company’s net margin was 7.26%. The community had predicted that the company would generate $592.53 million in revenue for the quarter, but the actual amount reported by the company was $605.20 million, which is significantly higher than the estimate. In the same period as the previous year, the company earned $0.39 per share. Compared to the same quarter of the previous year, revenues for this quarter have increased by 25.3% in their total amount. Market research experts believe G-III Apparel Group will earn $3.66 per share in the current fiscal year.
GIII stock began trading at $19.40 per share on Monday when the market opened. The company’s market capitalization currently stands at $921.25 million, while its PE ratio is 4.31, its PEG ratio is 0.35, and its beta value is 2.45. The moving average for the company over the past 50 days is $17.87 and the moving average over the past 200 days is $21.71. A debt ratio stands at 0.31, a quick ratio which stands at 0.94, a current ratio which stands at 2.29 and a quick ratio which stands at 0.94. The company’s stock price hit a new all-time low of $14.37 in the prior year, while hitting a new all-time high of $33.40.
Institutional investors have recently changed the way they hold their stakes in the company to comply with new regulations. First Horizon Advisors Inc. purchased an additional investment in G-III Apparel Group during the second quarter, bringing its total investment in the company to approximately $35,000 in stock. During the third quarter of the fiscal year, CWM LLC acquired a 704.6 percentage point increase in its stake in G-III Apparel Group. The total number of textile company shares that CWM LLC currently owns is 2,092 and their current market value is $31,000. The company has increased its share count by 1,832 over the past three months through the acquisition of additional shares. For a total of $89,000, Counterpoint Mutual Funds LLC invested in shares of G-III Apparel Group during the first three months of 2018. In addition, Lazard Asset Management LLC made a new investment in G-III Apparel Group in the second quarter by depositing $69,000 into the company’s coffers. This investment was made as part of the company’s second quarter. This brings us to our final, most important point: Gladius Capital Management LP purchased a new stake in the shares of G-III Apparel Group during the first quarter for a total investment of $96,000. The majority of the company’s shares are held by financial institutions, which represent eighty-seven point six percent of the total.

Several industry experts familiar with the research have shared their thoughts on the title. Wells Fargo & Company announced on July 11, in a publicly available report, that the company had begun providing coverage on the shares of G-III Apparel Group. They gave the company an “equal weight” rating and decided that twenty dollars was a good price target. In a research report released Thursday, September 8, G-III Apparel Group’s stock was categorized as a “market performer.” The company also lowered its price target on shares of G-III Apparel Group from $25.00 to $22.00. These two measures were taken in conjunction with the publication of the report. In a research note published on September 8, CL King stated its intention to reduce its price target on G-III Apparel Group shares from $45.00 to $26.00. UBS Group gave the company a “neutral” rating in a research report released Friday, July 15, and lowered its price target on G-III Apparel Group shares from $31.00 to $22.00. The report was posted on the company’s website. On top of that, they provided the company with a “neutral” price target. In the end, Piper Sandler reaffirmed an “overweight” rating on G-III Apparel Group stock and set a price target of $28.00 for the company’s stock in a research note released on Friday 22 July. Three financial analysts issued a buy recommendation for the company’s stock, while five gave the company a hold rating. According to Bloomberg.com, the current average rating for G-III Apparel Group is “Hold.” Website users have set a target price of $25.00 for the company. This information comes from the community of users of the website.

G-III Garments Group, Ltd. is in charge of the design, supply and international distribution of clothing for men, women and children. The name “retail operations” is given to two of the company’s departments, and “wholesale operations” is given to the other two departments. It offers a selection of women’s handbags, shoes, small leather goods and luggage. It also offers women’s coats, dresses, activewear, swimwear, costumes and performance wear. On top of that, it sells luggage as well as cold weather accessories.

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