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

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,300,000 shares, an increase of 16.0% from the February 13th total of 4,570,000 shares. Based on an average daily trading volume, of 516,100 shares, the days-to-cover ratio is presently 10.3 days. Approximately 13.9% of the company's stock are sold short.

Analyst Upgrades and Downgrades

GIII has been the topic of several recent research reports. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Barclays decreased their price target on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating on the stock in a research report on Tuesday, March 18th. UBS Group reduced their price objective on 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. Telsey Advisory Group cut their target price on G-III Apparel Group from $38.00 to $30.00 and set a "market perform" rating for the company in a research note on Friday, March 14th. Finally, KeyCorp lifted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of "Hold" and an average price target of $33.00.

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Institutional Trading of G-III Apparel Group

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its position in G-III Apparel Group by 46.6% during the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock worth $1,438,000 after purchasing an additional 14,016 shares during the period. Vestcor Inc lifted its holdings in shares of G-III Apparel Group by 197.7% during the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker's stock worth $956,000 after acquiring an additional 20,800 shares during the period. JPMorgan Chase & Co. boosted its position in shares of G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock worth $4,075,000 after acquiring an additional 59,718 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after acquiring an additional 472,862 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock valued at $29,833,000 after acquiring an additional 11,196 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Stock Performance

GIII stock traded down $0.45 during mid-day trading on Friday, hitting $26.20. 2,813,359 shares of the company were exchanged, compared to its average volume of 524,194. 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 business has a 50 day simple moving average of $28.89 and a 200-day simple moving average of $30.50. G-III Apparel Group has a 1-year low of $20.66 and a 1-year high of $36.18. The stock has a market capitalization of $1.15 billion, a PE ratio of 6.88 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping the consensus estimate of $0.97 by $0.30. The company 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 business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, equities analysts forecast that G-III Apparel Group will post 4.16 earnings per share for the current year.

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 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.