Exchange Traded Concepts LLC Grows Stock Holdings in G-III Apparel Group, LTD. (NASDAQ:GIII)

Exchange Traded Concepts LLC grew its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 46.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.11% of G-III Apparel Group worth $1,350,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GIII. American Century Companies Inc. lifted its holdings in shares of G-III Apparel Group by 11.8% during the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker's stock worth $47,672,000 after acquiring an additional 153,913 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of G-III Apparel Group by 2.6% during the 4th quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker's stock worth $25,197,000 after acquiring an additional 19,723 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of 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. Victory Capital Management Inc. lifted its holdings 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 acquiring an additional 472,862 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of G-III Apparel Group by 21.8% during the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker's stock worth $16,993,000 after acquiring an additional 93,263 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

G-III Apparel Group Price Performance

G-III Apparel Group stock traded up $0.51 during mid-day trading on Friday, hitting $21.96. The company's stock had a trading volume of 2,110,183 shares, compared to its average volume of 567,688. The stock has a market cap of $951.09 million, a price-to-earnings ratio of 5.08 and a beta of 1.48. The business has a 50 day moving average price of $25.50 and a 200-day moving average price of $28.14. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.06. The business had revenue of $583.61 million during the quarter, compared to the consensus estimate of $579.48 million. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts expect 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.