Short Interest in G-III Apparel Group, Ltd. (NASDAQ:GIII) Increases By 16.0%

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 5,300,000 shares, a growth of 16.0% from the February 13th total of 4,570,000 shares. Currently, 13.9% of the shares of the company are short sold. Based on an average daily trading volume, of 516,100 shares, the short-interest ratio is currently 10.3 days.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of research analyst reports. Telsey Advisory Group cut their price objective on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Guggenheim upped 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 report on Wednesday, December 11th. UBS Group cut their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, KeyCorp upped 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 research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Price Performance

NASDAQ:GIII traded up $0.60 during mid-day trading on Wednesday, hitting $26.73. The company’s stock had a trading volume of 479,285 shares, compared to its average volume of 515,866. G-III Apparel Group has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 7.02 and a beta of 2.09. The stock has a fifty day moving average of $29.11 and a 200-day moving average of $30.49.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to analysts’ expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities analysts forecast that G-III Apparel Group will post 4.16 EPS for the current fiscal year.

Institutional Trading of G-III Apparel Group

Several large investors have recently added to or reduced their stakes in GIII. Victory Capital Management Inc. grew its stake in G-III Apparel Group by 4.9% during the third quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after buying an additional 4,294 shares during the last quarter. Royce & Associates LP grew its stake in G-III Apparel Group by 10.2% during the third quarter. Royce & Associates LP now owns 38,064 shares of the textile maker’s stock worth $1,162,000 after buying an additional 3,537 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $473,000. Charles Schwab Investment Management Inc. grew its stake in shares of G-III Apparel Group by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock valued at $31,624,000 after purchasing an additional 6,598 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $282,000. 92.13% of the stock is owned by institutional investors.

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.