CX Institutional Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

CX Institutional bought a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 94,021 shares of the textile maker's stock, valued at approximately $2,571,000. CX Institutional owned 0.21% of G-III Apparel Group at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. increased its position in shares of G-III Apparel Group by 11.8% during the fourth quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker's stock valued at $47,672,000 after purchasing an additional 153,913 shares during the period. Prudential Financial Inc. lifted its position in shares of 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 worth $25,197,000 after purchasing an additional 19,723 shares in the last quarter. Marshall Wace LLP lifted its position in shares of G-III Apparel Group by 80.6% in the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after buying an additional 341,870 shares during the last quarter. Victory Capital Management Inc. lifted its position in G-III Apparel Group by 513.2% during the fourth 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 boosted its position in G-III Apparel Group by 21.8% in the fourth quarter. Northern Trust Corp now owns 520,931 shares of the textile maker's stock valued at $16,993,000 after buying an additional 93,263 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIII has been the subject of several recent research reports. Barclays decreased their price target on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Monday. UBS Group dropped their price objective on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Monday. Telsey Advisory Group lowered their price objective on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a research report on Monday. KeyCorp decreased their price target on G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Wall Street Zen upgraded shares of G-III Apparel Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of "Moderate Buy" and an average target price of $27.80.

G-III Apparel Group Stock Down 2.3%

Shares of NASDAQ:GIII traded down $0.49 during trading on Friday, reaching $20.77. 615,028 shares of the company traded hands, compared to its average volume of 571,005. The firm has a fifty day simple moving average of $25.82 and a 200 day simple moving average of $28.54. G-III Apparel Group, Ltd. has a 1-year low of $20.39 and a 1-year high of $36.18. The firm has a market cap of $911.23 million, a P/E ratio of 5.45 and a beta of 1.48. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm had revenue of $583.61 million during the quarter, compared to analysts' expectations of $579.48 million. During the same period last year, the firm posted $0.12 EPS. The business's revenue was down 4.3% on a year-over-year basis. Analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

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.