G-III Apparel Group, Ltd. (NASDAQ:GIII) Sees Significant Decline in Short Interest

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

Analyst Ratings Changes

Several equities research analysts have weighed in on GIII shares. KeyCorp increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Barclays raised their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Finally, Guggenheim lifted their target price 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 issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.17.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GIII. Janney Montgomery Scott LLC purchased a new position in G-III Apparel Group in the 4th quarter worth approximately $513,000. SG Americas Securities LLC increased its holdings in shares of 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 worth $538,000 after purchasing an additional 9,128 shares in the last quarter. Range Financial Group LLC purchased a new position in shares of G-III Apparel Group in the fourth quarter worth $303,000. JPMorgan Chase & Co. lifted its holdings in shares of G-III Apparel Group by 80.9% during the third 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. boosted its position in shares of G-III Apparel Group by 7.4% during the third quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock valued at $1,682,000 after buying an additional 3,806 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 %

Shares of NASDAQ GIII traded up $0.32 on Friday, reaching $30.91. 316,958 shares of the company’s stock traded hands, compared to its average volume of 498,402. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $31.89 and its two-hundred day simple moving average is $29.64. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 8.11 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $2.78 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

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.