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

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the recipient of 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 short-interest ratio is presently 9.4 days. Currently, 11.0% of the company’s stock are sold short.

Institutional Trading of G-III Apparel Group

A number of institutional investors and hedge funds have recently modified their holdings of GIII. Vestcor Inc boosted its position in 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 last quarter. Geode Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after buying an additional 11,196 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of G-III Apparel Group by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after buying an additional 59,718 shares during the last quarter. Sanctuary Advisors LLC grew its position in G-III Apparel Group by 8.4% during the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares during the period. Finally, Jane Street Group LLC increased its holdings in G-III Apparel Group by 269.9% during the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after buying an additional 183,246 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Up 1.0 %

GIII traded up $0.32 during mid-day trading on Monday, reaching $30.91. 316,958 shares of the stock were exchanged, compared to its average volume of 498,402. G-III Apparel Group has a 1 year low of $20.66 and a 1 year high of $36.18. 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 stock has a market capitalization of $1.36 billion, a PE ratio of 8.11 and a beta of 2.09. The company has a 50 day moving average price of $31.89 and a two-hundred day moving average price of $29.66.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly 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 net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $2.78 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts anticipate that G-III Apparel Group will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GIII shares. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday. Barclays increased their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Wednesday, December 11th. KeyCorp boosted their price target on shares of 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, Guggenheim raised their price objective 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.17.

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.