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

Superior Group of Companies, Inc. (NASDAQ:SGC) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 92,800 shares, an increase of 54.2% from the June 15th total of 60,200 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 124,200 shares, the short-interest ratio is presently 0.7 days.

Superior Group of Companies Stock Performance

Shares of SGC stock traded up $0.34 on Friday, reaching $19.61. The stock had a trading volume of 74,615 shares, compared to its average volume of 95,190. The stock has a market cap of $328.47 million, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 2.45 and a beta of 1.46. Superior Group of Companies has a 1 year low of $7.36 and a 1 year high of $21.80. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.98 and a current ratio of 3.03. The company has a 50 day simple moving average of $19.46 and a 200 day simple moving average of $16.52.

Superior Group of Companies (NASDAQ:SGC) last announced its earnings results on Tuesday, May 7th. The textile maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. Superior Group of Companies had a return on equity of 6.00% and a net margin of 2.14%. The company had revenue of $138.84 million for the quarter, compared to analysts’ expectations of $135.08 million. Equities research analysts expect that Superior Group of Companies will post 0.75 EPS for the current year.

Superior Group of Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $0.14 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.56 dividend on an annualized basis and a yield of 2.86%. Superior Group of Companies’s dividend payout ratio is currently 76.71%.

Hedge Funds Weigh In On Superior Group of Companies

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Superior Group of Companies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 603,651 shares of the textile maker’s stock worth $9,972,000 after purchasing an additional 2,799 shares during the period. Aegis Financial Corp raised its holdings in Superior Group of Companies by 10.7% in the 4th quarter. Aegis Financial Corp now owns 421,036 shares of the textile maker’s stock worth $5,684,000 after purchasing an additional 40,749 shares during the period. North Star Investment Management Corp. raised its holdings in Superior Group of Companies by 36.2% in the 4th quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker’s stock worth $5,275,000 after purchasing an additional 103,920 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Superior Group of Companies by 1,312.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 117,944 shares of the textile maker’s stock worth $1,948,000 after purchasing an additional 109,596 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Superior Group of Companies by 205.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 104,607 shares of the textile maker’s stock valued at $1,728,000 after acquiring an additional 70,400 shares during the period. 33.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SGC has been the topic of several recent analyst reports. DA Davidson reiterated 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. StockNews.com upgraded Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Singular Research restated a “buy” rating on shares of Superior Group of Companies in a research note on Tuesday, March 19th. Finally, Barrington Research restated an “outperform” rating and issued a $22.00 price target on shares of Superior Group of Companies in a research note on Tuesday, May 28th.

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.