CastleKnight Management LP Reduces Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

CastleKnight Management LP lessened its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,217 shares of the textile maker's stock after selling 20,092 shares during the period. CastleKnight Management LP owned about 0.25% of G-III Apparel Group worth $3,563,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GIII. Victory Capital Management Inc. raised its position in shares of G-III Apparel Group by 513.2% in the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock valued at $18,430,000 after purchasing an additional 472,862 shares during the period. Marshall Wace LLP grew its position in G-III Apparel Group by 80.6% during the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock worth $24,989,000 after acquiring an additional 341,870 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in G-III Apparel Group during the 4th quarter worth about $7,628,000. Barclays PLC raised its stake in G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock worth $8,627,000 after buying an additional 198,647 shares during the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of G-III Apparel Group in the 4th quarter valued at about $6,094,000. Institutional investors and hedge funds own 92.13% of the company's stock.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII traded down $0.31 during midday trading on Friday, reaching $26.44. The company had a trading volume of 269,521 shares, compared to its average volume of 555,858. The stock has a market cap of $1.16 billion, a P/E ratio of 6.94 and a beta of 1.41. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18. The business's 50-day simple moving average is $25.65 and its 200 day simple moving average is $29.13.

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 (EPS) for the quarter, topping the consensus estimate 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 was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 earnings per share. On average, analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. UBS Group lowered their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Telsey Advisory Group restated a "market perform" rating and issued a $30.00 target price on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.20.

About G-III Apparel Group

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.