Short Interest in G-III Apparel Group, Ltd. (NASDAQ:GIII) Drops By 6.5%

G-III Apparel Group, Ltd. (NASDAQ:GIII) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 4,190,000 shares, a decrease of 6.5% from the December 15th total of 4,480,000 shares. Based on an average daily volume of 447,900 shares, the days-to-cover ratio is currently 9.4 days. Approximately 11.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new position in G-III Apparel Group in the 4th quarter worth about $513,000. SG Americas Securities LLC raised its holdings in G-III Apparel Group by 124.1% in the 4th quarter. SG Americas Securities LLC now owns 16,482 shares of the textile maker’s stock valued at $538,000 after buying an additional 9,128 shares during the last quarter. Range Financial Group LLC acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at about $303,000. JPMorgan Chase & Co. boosted its position in shares of G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after purchasing an additional 59,718 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in G-III Apparel Group by 7.4% in the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after purchasing an additional 3,806 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. 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 note on Wednesday, December 11th. Guggenheim upped their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday. KeyCorp boosted their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded up $0.32 on Monday, reaching $30.91. 316,958 shares of the stock were exchanged, compared to its average volume of 498,402. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The firm has a market cap of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. The firm’s 50 day moving average is $31.89 and its 200-day moving average is $29.66. 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 released its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company earned $2.78 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current fiscal 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.