Short Interest in Global Industrial (NYSE:GIC) Declines By 6.4%

Global Industrial (NYSE:GIC) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 191,600 shares, a decline of 6.4% from the January 15th total of 204,800 shares. Based on an average trading volume of 109,200 shares, the short-interest ratio is presently 1.8 days. Approximately 2.5% of the shares of the company are short sold.

Insider Activity at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $28.28, for a total value of $165,155.20. Following the sale, the insider now directly owns 23,675 shares in the company, valued at approximately $669,529. The trade was a 19.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 65.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Industrial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Global Industrial by 50.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,446 shares of the company’s stock valued at $1,102,000 after acquiring an additional 14,999 shares during the period. Two Sigma Investments LP increased its position in shares of Global Industrial by 24.7% during the fourth quarter. Two Sigma Investments LP now owns 68,842 shares of the company’s stock valued at $1,707,000 after buying an additional 13,630 shares during the period. Nuveen Asset Management LLC increased its position in shares of Global Industrial by 4.8% during the fourth quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company’s stock valued at $1,430,000 after buying an additional 2,645 shares during the period. Numerai GP LLC bought a new stake in shares of Global Industrial during the fourth quarter valued at about $1,506,000. Finally, Lazard Asset Management LLC increased its position in shares of Global Industrial by 14.3% during the fourth quarter. Lazard Asset Management LLC now owns 32,595 shares of the company’s stock valued at $808,000 after buying an additional 4,068 shares during the period. 31.19% of the stock is currently owned by institutional investors.

Global Industrial Stock Performance

Shares of Global Industrial stock opened at $24.37 on Wednesday. Global Industrial has a 52-week low of $23.09 and a 52-week high of $46.97. The stock’s 50-day simple moving average is $24.91 and its 200 day simple moving average is $29.01. The stock has a market capitalization of $931.47 million, a P/E ratio of 14.33, a P/E/G ratio of 0.88 and a beta of 0.87.

Global Industrial Company Profile

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.