First Trust Advisors LP Boosts Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

First Trust Advisors LP raised its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 65.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,942 shares of the textile maker's stock after purchasing an additional 56,950 shares during the period. First Trust Advisors LP owned approximately 0.33% of G-III Apparel Group worth $4,695,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new position in shares of G-III Apparel Group in the 4th quarter valued at about $49,000. Smartleaf Asset Management LLC raised its stake in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth $172,000. Virtu Financial LLC acquired a new position in G-III Apparel Group during the third quarter valued at approximately $211,000. Finally, Wealthfront Advisers LLC bought a new position in shares of G-III Apparel Group in the fourth quarter worth about $215,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIII. UBS Group lowered 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 research note on Tuesday, March 4th. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Barclays decreased 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 research note on Monday, April 28th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.20.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII traded up $0.53 during midday trading on Wednesday, reaching $26.03. 330,449 shares of the company were exchanged, compared to its average volume of 555,295. The business's fifty day moving average is $25.63 and its two-hundred day moving average is $29.21. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The stock has a market cap of $1.14 billion, a PE ratio of 6.83 and a beta of 1.41. The company has a current ratio of 2.63, a quick ratio of 1.75 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 Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. As a group, analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

G-III Apparel Group Company 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.