Superior Group of Companies, Inc. (NASDAQ:SGC) Sees Significant Drop in Short Interest

Key Points

• Superior Group of Companies experienced a significant drop in short interest, with a 29.8% decrease from 407,500 shares to 286,100 shares as of August 31st, representing approximately 2.7% of the company's shares.
• The company announced a quarterly dividend of $0.14, which represents a 5.0% yield, although its dividend payout ratio stands at a high 109.80%.
• Several analysts have upgraded the stock's rating to "buy" and increased the target price to $16.00, with three analysts currently rating it as a "buy."

Superior Group of Companies, Inc. (NASDAQ:SGC - Get Free Report) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 286,100 shares, a drop of 29.8% from the August 15th total of 407,500 shares. Approximately 2.7% of the company's shares are short sold. Based on an average daily volume of 46,500 shares, the short-interest ratio is currently 6.2 days. Based on an average daily volume of 46,500 shares, the short-interest ratio is currently 6.2 days. Approximately 2.7% of the company's shares are short sold.

Insider Activity

In other news, Director Andrew D. Demott, Jr. sold 12,000 shares of Superior Group of Companies stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $11.46, for a total value of $137,520.00. Following the completion of the transaction, the director owned 202,126 shares in the company, valued at approximately $2,316,363.96. The trade was a 5.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.70% of the stock is owned by insiders.

Institutional Trading of Superior Group of Companies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio acquired a new position in Superior Group of Companies during the 1st quarter valued at approximately $319,000. Nuveen LLC acquired a new stake in shares of Superior Group of Companies during the first quarter worth $269,000. Hsbc Holdings PLC purchased a new stake in shares of Superior Group of Companies during the first quarter valued at $247,000. Jane Street Group LLC acquired a new position in shares of Superior Group of Companies in the 2nd quarter valued at $206,000. Finally, CWC Advisors LLC. raised its stake in Superior Group of Companies by 69.4% in the 1st quarter. CWC Advisors LLC. now owns 48,060 shares of the textile maker's stock worth $526,000 after acquiring an additional 19,697 shares during the last quarter. Hedge funds and other institutional investors own 33.75% of the company's stock.

Superior Group of Companies Trading Down 5.1%

Shares of NASDAQ SGC opened at $11.19 on Tuesday. Superior Group of Companies has a 1-year low of $9.11 and a 1-year high of $18.48. The business has a fifty day moving average price of $11.61 and a 200 day moving average price of $10.96. The stock has a market capitalization of $178.70 million, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 2.49 and a beta of 1.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.71 and a quick ratio of 1.70.

Superior Group of Companies (NASDAQ:SGC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The textile maker reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. Superior Group of Companies had a return on equity of 4.22% and a net margin of 1.44%.The company had revenue of $144.05 million for the quarter, compared to analyst estimates of $133.32 million. Superior Group of Companies has set its FY 2025 guidance at EPS. Equities research analysts expect that Superior Group of Companies will post 0.77 EPS for the current fiscal year.

Superior Group of Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, August 18th. Superior Group of Companies's dividend payout ratio (DPR) is 109.80%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SGC shares. Wall Street Zen upgraded shares of Superior Group of Companies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barrington Research boosted their target price on Superior Group of Companies from $15.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Noble Financial began coverage on Superior Group of Companies in a report on Thursday, May 29th. They issued an "outperform" rating and a $16.00 price target on the stock. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $17.33.

Superior Group of Companies Company Profile

Superior Group of Companies, Inc manufactures and sells apparel and accessories in the United States and internationally. It operates through three segments: Branded Products, Healthcare Apparel, and Contact Centers. The Branded Products segment produces and sells customized merchandising solutions, promotional products, and branded uniform to chain retailer, food service, entertainment, technology, transportation, and other industries under BAMKO and HPI brands.

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