Superior Group of Companies, Inc. (NASDAQ:SGC) Short Interest Up 44.6% in August

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 August. As of August 15th, there was short interest totaling 407,500 shares, anincreaseof44.6% from the July 31st total of 281,800 shares. Approximately3.8% of the company's shares are short sold. Based on an average daily volume of 47,100 shares, the short-interest ratio is currently 8.7 days. Based on an average daily volume of 47,100 shares, the short-interest ratio is currently 8.7 days. Approximately3.8% of the company's shares are short sold.

Insider Transactions at Superior Group of Companies

In other news, Director Andrew D. Demott, Jr. sold 12,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $11.46, for a total transaction of $137,520.00. Following the transaction, the director directly owned 202,126 shares in the company, valued at $2,316,363.96. This represents a 5.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 26.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC increased its stake in Superior Group of Companies by 0.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 176,303 shares of the textile maker's stock worth $1,816,000 after purchasing an additional 1,331 shares in the last quarter. Bank of America Corp DE increased its stake in Superior Group of Companies by 20.5% in the 2nd quarter. Bank of America Corp DE now owns 14,780 shares of the textile maker's stock worth $152,000 after purchasing an additional 2,511 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Superior Group of Companies by 6.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,708 shares of the textile maker's stock worth $182,000 after purchasing an additional 1,021 shares in the last quarter. Jane Street Group LLC purchased a new position in Superior Group of Companies in the 2nd quarter worth about $206,000. Finally, Qube Research & Technologies Ltd increased its stake in Superior Group of Companies by 21.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 26,293 shares of the textile maker's stock worth $271,000 after purchasing an additional 4,589 shares in the last quarter. 33.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SGC has been the subject of several recent research reports. Barrington Research increased their price objective on shares of 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. Wall Street Zen raised shares of Superior Group of Companies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Noble Financial initiated coverage on shares of Superior Group of Companies in a research report on Thursday, May 29th. They set an "outperform" rating and a $16.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.33.

Superior Group of Companies Stock Performance

Superior Group of Companies stock traded down $0.31 during mid-day trading on Friday, reaching $12.21. The company's stock had a trading volume of 38,678 shares, compared to its average volume of 42,060. The company has a current ratio of 2.71, a quick ratio of 1.70 and a debt-to-equity ratio of 0.49. The firm has a market cap of $194.99 million, a price-to-earnings ratio of 23.94, a PEG ratio of 2.58 and a beta of 1.41. Superior Group of Companies has a twelve month low of $9.11 and a twelve month high of $18.48. The business has a 50 day moving average price of $11.48 and a 200-day moving average price of $11.10.

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 analysts' consensus estimates 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 analysts' expectations of $133.32 million. Superior Group of Companies has set its FY 2025 guidance at EPS. Sell-side analysts predict that Superior Group of Companies will post 0.77 EPS for the current fiscal year.

Superior Group of Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, August 18th. Superior Group of Companies's payout ratio is presently 109.80%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.