Phocas Financial Corp. Grows Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Phocas Financial Corp. lifted its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 84.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,020 shares of the textile maker's stock after purchasing an additional 107,082 shares during the quarter. Phocas Financial Corp. owned about 0.53% of G-III Apparel Group worth $7,634,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. AlphaQuest LLC purchased a new position in G-III Apparel Group during the 4th quarter worth $49,000. Smartleaf Asset Management LLC raised its stake in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after buying an additional 1,412 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $68,000. Point72 Asia Singapore Pte. Ltd. raised 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 worth $117,000 after buying an additional 564 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $172,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GIII. Wall Street Zen upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Barclays cut their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a report on Monday, April 28th. Telsey Advisory Group reiterated a "market perform" rating and issued a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. Finally, UBS Group dropped their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.20.

G-III Apparel Group Price Performance

Shares of GIII stock traded up $0.12 during mid-day trading on Wednesday, reaching $28.63. The stock had a trading volume of 521,772 shares, compared to its average volume of 553,950. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $26.09 and a 200 day simple moving average of $28.89. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The company has a market cap of $1.26 billion, a P/E ratio of 7.51 and a beta of 1.41.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. G-III Apparel Group's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current 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.