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

Superior Group of Companies, Inc. (NASDAQ:SGC) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 61,000 shares, a decrease of 37.1% from the May 15th total of 97,000 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 85,100 shares, the days-to-cover ratio is currently 0.7 days.

Insiders Place Their Bets

In related news, Director Paul V. Mellini sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $15.66, for a total value of $93,960.00. Following the transaction, the director now owns 92,955 shares in the company, valued at $1,455,675.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Paul V. Mellini sold 6,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $15.66, for a total value of $93,960.00. Following the completion of the sale, the director now directly owns 92,955 shares in the company, valued at approximately $1,455,675.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Philip Koosed sold 9,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $15.64, for a total value of $140,760.00. Following the completion of the transaction, the insider now directly owns 82,436 shares in the company, valued at $1,289,299.04. The disclosure for this sale can be found here. 27.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Superior Group of Companies

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Superior Group of Companies by 0.5% in the first 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 grew its position in shares of Superior Group of Companies by 10.7% during the 4th quarter. Aegis Financial Corp now owns 421,036 shares of the textile maker’s stock valued at $5,684,000 after buying an additional 40,749 shares during the last quarter. North Star Investment Management Corp. raised its stake in Superior Group of Companies by 36.2% during the fourth quarter. North Star Investment Management Corp. now owns 390,775 shares of the textile maker’s stock worth $5,275,000 after acquiring an additional 103,920 shares during the period. Hillsdale Investment Management Inc. lifted its holdings in Superior Group of Companies by 1,312.8% in the first quarter. Hillsdale Investment Management Inc. now owns 117,944 shares of the textile maker’s stock worth $1,948,000 after acquiring an additional 109,596 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Superior Group of Companies by 205.8% in 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on SGC shares. DA Davidson initiated coverage on Superior Group of Companies in a report on Tuesday, June 4th. They issued a “buy” rating and a $24.00 price target for the company. StockNews.com raised shares of Superior Group of Companies from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 20th. Barrington Research reiterated an “outperform” rating and issued a $22.00 price objective on shares of Superior Group of Companies in a report on Tuesday, May 28th. Finally, Singular Research reissued a “buy” rating on shares of Superior Group of Companies in a research report on Tuesday, March 19th.

Superior Group of Companies Stock Down 0.9 %

SGC stock traded down $0.18 during midday trading on Friday, hitting $19.55. 63,375 shares of the company’s stock were exchanged, compared to its average volume of 95,896. The stock has a market capitalization of $327.46 million, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.47. The company has a current ratio of 3.03, a quick ratio of 1.98 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $18.53 and a 200-day moving average price of $15.75. Superior Group of Companies has a 12-month low of $7.36 and a 12-month high of $21.80.

Superior Group of Companies (NASDAQ:SGC) last issued its quarterly earnings results on Tuesday, May 7th. The textile maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.17. The business had revenue of $138.84 million during the quarter, compared to analyst estimates of $135.08 million. Superior Group of Companies had a net margin of 2.14% and a return on equity of 6.00%. On average, analysts anticipate 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. Stockholders of record on Monday, May 20th were paid a $0.14 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.86%. Superior Group of Companies’s dividend payout ratio (DPR) is presently 76.71%.

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.