G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Up 16.0% in February

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the recipient of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 5,300,000 shares, a growth of 16.0% from the February 13th total of 4,570,000 shares. Currently, 13.9% of the company’s shares are sold short. Based on an average trading volume of 516,100 shares, the days-to-cover ratio is presently 10.3 days.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently made changes to their positions in GIII. New York State Common Retirement Fund grew its position in shares of G-III Apparel Group by 46.6% during the 4th quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock valued at $1,438,000 after acquiring an additional 14,016 shares during the period. Vestcor Inc boosted its position in shares of G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock worth $956,000 after purchasing an additional 20,800 shares during the period. JPMorgan Chase & Co. increased its stake in shares of G-III Apparel Group by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after purchasing an additional 59,718 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after purchasing an additional 472,862 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after buying an additional 11,196 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 1.4 %

GIII traded up $0.38 during trading on Thursday, reaching $27.11. The stock had a trading volume of 24,991 shares, compared to its average volume of 513,893. The stock’s 50 day moving average is $29.11 and its two-hundred day moving average is $30.49. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.11 and a beta of 2.09. 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 has a one year low of $20.66 and a one year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. During the same quarter last year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays cut their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday. UBS Group reduced their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. KeyCorp upped their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” 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. Finally, Guggenheim upped 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 report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and an average target price of $33.00.

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.