Global Industrial (NYSE:GIC) Short Interest Down 6.4% in January

Global Industrial (NYSE:GIC - Get Free Report) was the target of a significant decline in short interest during 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. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 109,200 shares, the days-to-cover ratio is presently 1.8 days.

Global Industrial Stock Performance

NYSE:GIC traded down $0.62 on Friday, hitting $23.98. 127,501 shares of the stock were exchanged, compared to its average volume of 113,685. The stock has a market capitalization of $916.64 million, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.93 and a beta of 0.87. Global Industrial has a 52 week low of $23.09 and a 52 week high of $46.97. The company's 50-day moving average price is $24.79 and its 200 day moving average price is $28.95.

Insider Activity at Global Industrial

In related news, Vice Chairman Bruce Leeds sold 5,840 shares of Global Industrial 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 completion of the transaction, the insider now directly owns 23,675 shares of the company's stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 65.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Industrial

Several institutional investors have recently modified their holdings of the stock. Amiral Gestion acquired a new position in shares of Global Industrial during the 4th quarter worth about $992,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 purchasing an additional 14,999 shares during the period. Two Sigma Investments LP boosted its position in Global Industrial by 24.7% during the 4th quarter. Two Sigma Investments LP now owns 68,842 shares of the company's stock worth $1,707,000 after acquiring an additional 13,630 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Global Industrial by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 57,688 shares of the company's stock worth $1,430,000 after acquiring an additional 2,645 shares during the last quarter. Finally, Numerai GP LLC bought a new stake in shares of Global Industrial during the 4th quarter worth approximately $1,506,000. 31.19% of the stock is currently owned by institutional investors and hedge funds.

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.