G-III Apparel Group, LTD. (NASDAQ:GIII) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 3,366.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,330 shares of the textile maker's stock after purchasing an additional 22,657 shares during the period. GAMMA Investing LLC owned approximately 0.05% of G-III Apparel Group worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. boosted its position in G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after buying an additional 564 shares during the period. Sanctuary Advisors LLC boosted its position in G-III Apparel Group by 4.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock valued at $500,000 after buying an additional 631 shares during the period. Vestcor Inc boosted its position in G-III Apparel Group by 2.1% in the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after buying an additional 665 shares during the period. Atria Investments Inc boosted its position in G-III Apparel Group by 9.1% in the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after buying an additional 673 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in G-III Apparel Group by 1.3% in the 4th quarter. BNP Paribas Financial Markets now owns 79,173 shares of the textile maker's stock valued at $2,583,000 after buying an additional 995 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Price Performance

Shares of GIII traded up $0.51 during midday trading on Friday, reaching $21.96. The stock had a trading volume of 2,110,183 shares, compared to its average volume of 582,569. G-III Apparel Group, LTD. has a 1-year low of $20.33 and a 1-year high of $36.18. The company's fifty day simple moving average is $25.55 and its two-hundred day simple moving average is $28.24. The company has a market cap of $951.09 million, a price-to-earnings ratio of 5.08 and a beta of 1.48.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.20% and a return on equity of 12.65%. The business had revenue of $583.61 million for the quarter, compared to analyst estimates of $579.48 million. During the same period last year, the business earned $0.12 EPS. The company's revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

Wall Street Analyst Weigh In

GIII has been the subject of several recent research reports. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research report on Monday, June 9th. Wall Street Zen cut shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. KeyCorp decreased 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 report on Monday, June 9th. UBS Group decreased 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 report on Monday, June 9th. Finally, Barclays reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group presently 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.