Brevan Howard Capital Management LP Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Brevan Howard Capital Management LP acquired a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,336 shares of the textile maker's stock, valued at approximately $500,000.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of G-III Apparel Group by 11.8% in the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker's stock valued at $47,672,000 after buying an additional 153,913 shares during the period. Prudential Financial Inc. boosted its stake in G-III Apparel Group by 2.6% in the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker's stock valued at $25,197,000 after acquiring an additional 19,723 shares during the period. Marshall Wace LLP grew its holdings in shares of G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after purchasing an additional 341,870 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock worth $18,430,000 after purchasing an additional 472,862 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of G-III Apparel Group by 21.8% in the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker's stock worth $16,993,000 after purchasing an additional 93,263 shares during the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GIII. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. Barclays lowered their target price on G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday, April 28th. Finally, UBS Group decreased their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of "Hold" and an average price target of $32.20.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $26.44 on Friday. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $25.65 and its two-hundred day moving average price is $29.14. The stock has a market cap of $1.16 billion, a PE ratio of 6.94 and a beta of 1.41.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. As a group, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.

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