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

Global Industrial (NYSE:GIC) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 191,600 shares, a drop of 6.4% from the January 15th total of 204,800 shares. Based on an average daily volume of 109,200 shares, the short-interest ratio is presently 1.8 days. Currently, 2.5% of the company’s stock are short sold.

Global Industrial Trading Up 0.4 %

NYSE:GIC traded up $0.09 during trading hours on Tuesday, reaching $24.41. The company had a trading volume of 8,616 shares, compared to its average volume of 107,557. The firm has a market cap of $933.19 million, a price-to-earnings ratio of 14.39, a PEG ratio of 0.88 and a beta of 0.87. The firm’s 50 day moving average price is $24.98 and its 200-day moving average price is $29.07. Global Industrial has a 52 week low of $23.09 and a 52 week high of $46.97.

Insider Buying and Selling at Global Industrial

In other news, Vice Chairman Bruce Leeds sold 5,840 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $28.28, for a total transaction of $165,155.20. Following the completion of the transaction, the insider now directly owns 23,675 shares of the company’s stock, valued at $669,529. The trade was a 19.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 65.30% of the company’s stock.

Institutional Trading of Global Industrial

Several large investors have recently modified their holdings of the company. FMR LLC boosted its position in Global Industrial by 14.7% in the third quarter. FMR LLC now owns 2,534,156 shares of the company’s stock worth $86,085,000 after purchasing an additional 325,555 shares during the last quarter. J. Goldman & Co LP lifted its stake in shares of Global Industrial by 559.7% in the 4th quarter. J. Goldman & Co LP now owns 494,650 shares of the company’s stock worth $12,262,000 after purchasing an additional 419,672 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Global Industrial by 65.6% in the fourth quarter. Bank of New York Mellon Corp now owns 319,282 shares of the company’s stock worth $7,915,000 after buying an additional 126,431 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Global Industrial by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 319,056 shares of the company’s stock valued at $7,912,000 after acquiring an additional 2,973 shares during the period. Finally, State Street Corp increased its position in Global Industrial by 2.6% in the third quarter. State Street Corp now owns 315,779 shares of the company’s stock worth $10,727,000 after buying an additional 8,136 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

About Global Industrial

Global Industrial Company operates as an industrial distributor of various industrial and maintenance, repair, and operation (MRO) products in North America. It offers storage and shelving, safety and security, carts and trucks, HVAC and fans, furniture and decor, material handling, janitorial and facility maintenance, workbenches and shop desks, tools and instruments, plumbing and pumps, office and school supplies, packaging and shipping, lighting and electrical, foodservice and retail, medical and laboratory, motors and power transmission, building supplies, machining, fasteners and hardware, vehicle maintenance, and raw materials.