Exchange Traded Concepts LLC Acquires 15,667 Shares of G-III Apparel Group, LTD. (NASDAQ:GIII)

Exchange Traded Concepts LLC lifted its position in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 46.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,357 shares of the textile maker's stock after purchasing an additional 15,667 shares during the period. Exchange Traded Concepts LLC owned about 0.11% of G-III Apparel Group worth $1,350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its stake in G-III Apparel Group by 1.6% during the first quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker's stock valued at $816,000 after buying an additional 461 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of G-III Apparel Group by 18.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after purchasing an additional 564 shares during the period. Sanctuary Advisors LLC grew its stake in shares of G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock valued at $500,000 after purchasing an additional 631 shares during the period. Vestcor Inc grew its stake in shares of G-III Apparel Group by 2.1% during the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after acquiring an additional 665 shares during the period. Finally, Atria Investments Inc grew its stake in shares of G-III Apparel Group by 9.1% during the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after acquiring an additional 673 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $21.45 on Thursday. The stock's fifty day moving average is $25.62 and its two-hundred day moving average is $28.30. The firm has a market capitalization of $929.00 million, a P/E ratio of 4.97 and a beta of 1.48. G-III Apparel Group, LTD. has a fifty-two week low of $20.33 and a fifty-two week high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. The business had revenue of $583.61 million for the quarter, compared to analyst estimates of $579.48 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GIII. Barclays lowered their price target on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, June 9th. Telsey Advisory Group decreased their price target on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Monday, June 9th. Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, June 14th. KeyCorp reduced their target price on G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Finally, UBS Group reduced their price target on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group has an average rating of "Hold" and a consensus target price of $27.80.

G-III Apparel Group 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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