Global Industrial (NYSE:GIC) Sees Large Decrease in Short Interest

Global Industrial (NYSE:GICGet Rating) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 157,300 shares, a decrease of 14.3% from the April 15th total of 183,600 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average trading volume of 68,000 shares, the short-interest ratio is presently 2.3 days.

Separately, Zacks Investment Research upgraded Global Industrial from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a report on Friday, May 6th.

GIC opened at $34.33 on Wednesday. The stock has a market cap of $1.30 billion, a P/E ratio of 11.88 and a beta of 0.67. The stock’s 50 day simple moving average is $32.37 and its 200 day simple moving average is $35.92. Global Industrial has a 1-year low of $28.35 and a 1-year high of $45.21.

Global Industrial (NYSE:GICGet Rating) last announced its earnings results on Tuesday, May 3rd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.24. Global Industrial had a return on equity of 56.45% and a net margin of 10.00%. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, equities analysts expect that Global Industrial will post 2.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 23rd. Shareholders of record on Monday, May 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, May 13th. Global Industrial’s dividend payout ratio (DPR) is presently 24.91%.

A number of large investors have recently made changes to their positions in GIC. Grandeur Peak Global Advisors LLC grew its holdings in Global Industrial by 71.0% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 766,970 shares of the company’s stock valued at $24,719,000 after buying an additional 318,481 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Global Industrial by 82.9% during the 1st quarter. Victory Capital Management Inc. now owns 252,708 shares of the company’s stock valued at $7,799,000 after buying an additional 114,522 shares during the last quarter. Royce & Associates LP grew its holdings in Global Industrial by 40.7% during the 1st quarter. Royce & Associates LP now owns 313,109 shares of the company’s stock valued at $10,092,000 after buying an additional 90,640 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Global Industrial by 255.0% during the first quarter. Advisors Asset Management Inc. now owns 110,443 shares of the company’s stock worth $3,560,000 after purchasing an additional 79,329 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Global Industrial by 57.0% during the fourth quarter. First Trust Advisors LP now owns 211,157 shares of the company’s stock worth $8,636,000 after purchasing an additional 76,666 shares during the last quarter. Hedge funds and other institutional investors own 30.80% of the company’s stock.

Global Industrial Company Profile (Get Rating)

Global Industrial Company, through its subsidiaries, operates as a value-added industrial distributor of industrial and maintenance, repair, and operation (MRO) products in North America. The company offers industrial and MRO products under Global, GlobalIndustrial.com, Nexel, Paramount, and Interion trademarks.

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