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

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 4,560,000 shares, an increase of 10.1% from the January 15th total of 4,140,000 shares. Currently, 12.1% of the shares of the company are short sold. Based on an average daily volume of 474,900 shares, the days-to-cover ratio is currently 9.6 days.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $29.72 on Tuesday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.80 and a beta of 2.07. The business’s 50 day moving average is $32.01 and its two-hundred day moving average is $30.30. G-III Apparel Group has a 12-month low of $20.66 and a 12-month high of $36.18. 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 posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.78 earnings per share. Research analysts expect that G-III Apparel Group will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Guggenheim increased their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. KeyCorp lifted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.17.

Hedge Funds Weigh In On G-III Apparel Group

Large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of G-III Apparel Group in the 3rd quarter worth about $375,000. Guidance Capital Inc. grew its stake in G-III Apparel Group by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock valued at $563,000 after acquiring an additional 331 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in G-III Apparel Group during the 3rd quarter valued at about $229,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in G-III Apparel Group during the third quarter worth about $3,671,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

About G-III Apparel Group

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.