G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Up 79.0% in May

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G-III Apparel Group, Ltd. (NASDAQ:GIII) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 5,487,200 shares, an increase of 79.0% from the April 30th total of 3,066,000 shares. Based on an average trading volume of 656,200 shares, the days-to-cover ratio is presently 8.4 days. Approximately 12.4% of the company’s stock are sold short.

Several research firms have commented on GIII. ValuEngine raised shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. TheStreet lowered shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. BidaskClub lowered shares of G-III Apparel Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 1st. Finally, Bank of America set a $46.00 price target on shares of G-III Apparel Group and gave the company a “buy” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. G-III Apparel Group currently has an average rating of “Buy” and an average price target of $41.70.

Shares of GIII traded down $0.61 during mid-day trading on Wednesday, hitting $26.41. 21,466 shares of the company traded hands, compared to its average volume of 955,200. G-III Apparel Group has a 1-year low of $23.34 and a 1-year high of $50.83. The company has a quick ratio of 1.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.26 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 0.73 and a beta of 1.37.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The firm had revenue of $633.60 million for the quarter, compared to the consensus estimate of $650.03 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts anticipate that G-III Apparel Group will post 3.27 EPS for the current fiscal year.

In other G-III Apparel Group news, Director Laura H. Pomerantz sold 2,105 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $41.52, for a total transaction of $87,399.60. Following the completion of the sale, the director now directly owns 36,756 shares of the company’s stock, valued at $1,526,109.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Sammy Aaron sold 71,766 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $41.33, for a total transaction of $2,966,088.78. Following the sale, the insider now directly owns 434,969 shares of the company’s stock, valued at $17,977,268.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,692 shares of company stock valued at $3,086,681. 8.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of GIII. BlackRock Inc. increased its holdings in G-III Apparel Group by 2.3% in the 4th quarter. BlackRock Inc. now owns 6,147,989 shares of the textile maker’s stock worth $171,469,000 after buying an additional 135,596 shares during the period. Dimensional Fund Advisors LP increased its holdings in G-III Apparel Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock worth $115,585,000 after buying an additional 58,455 shares during the period. Victory Capital Management Inc. increased its holdings in G-III Apparel Group by 72.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,553,760 shares of the textile maker’s stock worth $62,088,000 after buying an additional 650,645 shares during the period. Clark Capital Management Group Inc. increased its holdings in G-III Apparel Group by 47.0% in the 1st quarter. Clark Capital Management Group Inc. now owns 990,614 shares of the textile maker’s stock worth $39,585,000 after buying an additional 316,781 shares during the period. Finally, Jennison Associates LLC increased its holdings in G-III Apparel Group by 1.5% in the 4th quarter. Jennison Associates LLC now owns 802,858 shares of the textile maker’s stock worth $22,392,000 after buying an additional 11,661 shares during the period.

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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 in 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.

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