Short Interest in G-III Apparel Group, Ltd. (NASDAQ:GIII) Increases By 10.1%

G-III Apparel Group, Ltd. (NASDAQ:GIII - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 4,560,000 shares, a growth of 10.1% from the January 15th total of 4,140,000 shares. Approximately 12.1% of the shares of the company are short sold. Based on an average daily trading volume, of 474,900 shares, the days-to-cover ratio is presently 9.6 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GIII. Telsey Advisory Group reaffirmed a "market perform" rating and set a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. KeyCorp lifted 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 note on Wednesday, December 11th. Guggenheim upped their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. StockNews.com raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Finally, Barclays raised their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an "underweight" rating in a research note on Wednesday, December 11th. Two equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $33.17.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII traded down $0.48 during midday trading on Wednesday, reaching $29.02. The company's stock had a trading volume of 414,060 shares, compared to its average volume of 392,477. G-III Apparel Group has a one year low of $20.66 and a one year high of $36.18. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 7.62 and a beta of 2.07. The company has a 50 day moving average price of $31.78 and a 200 day moving average price of $30.32. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the company earned $2.78 earnings per share. The firm's revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that G-III Apparel Group will post 4.16 EPS for the current year.

Hedge Funds Weigh In On G-III Apparel Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC acquired a new stake in G-III Apparel Group during the 4th quarter worth about $49,000. Quarry LP acquired a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $63,000. Smartleaf Asset Management LLC lifted its position in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock valued at $64,000 after acquiring an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in G-III Apparel Group in the 4th quarter worth approximately $68,000. Finally, CWM LLC boosted its stake in G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker's stock worth $85,000 after purchasing an additional 885 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

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.