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

Superior Group of Companies, Inc. (NASDAQ:SGC) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 402,000 shares, an increase of 15.8% from the August 15th total of 347,200 shares. Based on an average daily volume of 149,900 shares, the days-to-cover ratio is presently 2.7 days. Currently, 3.5% of the company’s stock are short sold.

Insider Buying and Selling

In other news, CEO Michael Benstock bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average cost of $13.45 per share, with a total value of $134,500.00. Following the transaction, the chief executive officer now directly owns 583,848 shares in the company, valued at $7,852,755.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Loreen M. Spencer acquired 3,500 shares of Superior Group of Companies stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $13.20 per share, for a total transaction of $46,200.00. Following the completion of the purchase, the director now directly owns 7,266 shares of the company’s stock, valued at $95,911.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Benstock bought 10,000 shares of Superior Group of Companies stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $13.45 per share, for a total transaction of $134,500.00. Following the completion of the transaction, the chief executive officer now owns 583,848 shares of the company’s stock, valued at approximately $7,852,755.60. The disclosure for this purchase can be found here. Insiders acquired a total of 15,500 shares of company stock worth $206,700 over the last 90 days. 27.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Superior Group of Companies in the first quarter worth about $28,000. Hillsdale Investment Management Inc. bought a new stake in Superior Group of Companies during the 4th quarter worth approximately $113,000. Lazard Asset Management LLC lifted its stake in Superior Group of Companies by 10,390.3% in the first quarter. Lazard Asset Management LLC now owns 7,553 shares of the textile maker’s stock valued at $124,000 after buying an additional 7,481 shares in the last quarter. Algert Global LLC acquired a new position in shares of Superior Group of Companies in the second quarter valued at approximately $192,000. Finally, Cannon Financial Strategists Inc. bought a new stake in shares of Superior Group of Companies during the second quarter worth $261,000. Institutional investors and hedge funds own 33.75% of the company’s stock.

Superior Group of Companies Stock Down 0.7 %

SGC stock traded down $0.10 during mid-day trading on Monday, hitting $14.95. The stock had a trading volume of 38,817 shares, compared to its average volume of 100,092. The company has a fifty day moving average of $16.28 and a 200 day moving average of $17.25. Superior Group of Companies has a 1-year low of $7.37 and a 1-year high of $21.80. The stock has a market capitalization of $250.71 million, a price-to-earnings ratio of 20.49, a PEG ratio of 1.96 and a beta of 1.42. The company has a current ratio of 2.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36.

Superior Group of Companies (NASDAQ:SGC) last announced its earnings results on Tuesday, August 6th. The textile maker reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Superior Group of Companies had a return on equity of 5.63% and a net margin of 2.02%. The company had revenue of $131.74 million for the quarter, compared to the consensus estimate of $136.60 million. During the same period in the previous year, the company earned $0.08 EPS. On average, equities analysts expect that Superior Group of Companies will post 0.74 EPS for the current fiscal year.

Superior Group of Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Saturday, August 17th were given a $0.14 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 3.75%. Superior Group of Companies’s dividend payout ratio is 76.71%.

Analysts Set New Price Targets

A number of research firms have issued reports on SGC. DA Davidson reissued a “buy” rating and set a $24.00 target price on shares of Superior Group of Companies in a research note on Monday, June 24th. Barrington Research decreased their price objective on Superior Group of Companies from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, August 21st. Finally, StockNews.com downgraded Superior Group of Companies from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th.

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.