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

Key Points

• Short interest in Superior Group of Companies increased by 44.6% in August, totaling 407,500 shares, indicating a growing bearish sentiment among investors.
• Director Andrew D. Demott, Jr. sold 12,000 shares at an average price of $11.46, reducing his stake in the company by 5.6%.
• Analysts have a consensus Buy rating for SGC, with a price target increase from $15.00 to $16.00, suggesting positive future performance for the stock.

Superior Group of Companies, Inc. (NASDAQ:SGC - Get Free Report) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 407,500 shares, an increase of 44.6% from the July 31st total of 281,800 shares. Based on an average daily volume of 47,100 shares, the days-to-cover ratio is currently 8.7 days. Currently, 3.8% of the company's stock are short sold. Currently, 3.8% of the company's stock are short sold. Based on an average daily volume of 47,100 shares, the days-to-cover ratio is currently 8.7 days.

Insider Transactions at Superior Group of Companies

In other Superior Group of Companies news, Director Andrew D. Demott, Jr. sold 12,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $11.46, for a total transaction of $137,520.00. Following the sale, the director directly owned 202,126 shares of the company's stock, valued at $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 is available through this hyperlink. 26.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Superior Group of Companies

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Superior Group of Companies by 5.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,489 shares of the textile maker's stock worth $290,000 after buying an additional 881 shares during the last quarter. North Star Investment Management Corp. increased its position in Superior Group of Companies by 0.3% during the first quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker's stock worth $4,275,000 after buying an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. increased its position in Superior Group of Companies by 6.1% during the second quarter. Ameriprise Financial Inc. now owns 17,708 shares of the textile maker's stock worth $182,000 after buying an additional 1,021 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in Superior Group of Companies by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 176,303 shares of the textile maker's stock valued at $1,816,000 after acquiring an additional 1,331 shares during the period. Finally, CWC Advisors LLC. grew its position in shares of Superior Group of Companies by 2.9% in the second quarter. CWC Advisors LLC. now owns 49,455 shares of the textile maker's stock valued at $509,000 after purchasing an additional 1,395 shares during the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Superior Group of Companies Stock Down 3.8%

Shares of NASDAQ SGC traded down $0.46 during mid-day trading on Friday, reaching $11.79. The company had a trading volume of 22,132 shares, compared to its average volume of 49,049. Superior Group of Companies has a twelve month low of $9.11 and a twelve month high of $18.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.71. The stock has a market capitalization of $188.26 million, a PE ratio of 23.12, a price-to-earnings-growth ratio of 2.48 and a beta of 1.41. The stock's 50 day moving average is $11.59 and its 200-day moving average is $11.05.

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

Superior Group of Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, August 18th. Superior Group of Companies's dividend payout ratio is presently 109.80%.

About Superior Group of Companies

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.