Quantedge Capital Pte Ltd reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,800 shares of the textile maker's stock after selling 14,300 shares during the period. G-III Apparel Group makes up approximately 1.8% of Quantedge Capital Pte Ltd's investment portfolio, making the stock its 13th biggest holding. Quantedge Capital Pte Ltd owned 0.35% of G-III Apparel Group worth $4,952,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in 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 valued at $18,430,000 after purchasing an additional 472,862 shares during the last quarter. Marshall Wace LLP increased its holdings in G-III Apparel Group by 80.6% in the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock worth $24,989,000 after buying an additional 341,870 shares during the period. Balyasny Asset Management L.P. purchased a new position in G-III Apparel Group during the 4th quarter worth approximately $7,628,000. Barclays PLC lifted its stake in G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker's stock valued at $8,627,000 after acquiring an additional 198,647 shares during the period. Finally, Foundry Partners LLC acquired a new stake in G-III Apparel Group during the 4th quarter valued at approximately $6,094,000. 92.13% of the stock is owned by hedge funds and other institutional investors.
G-III Apparel Group Price Performance
NASDAQ:GIII opened at $28.14 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The stock's 50-day moving average price is $25.73 and its 200-day moving average price is $29.09. The stock has a market capitalization of $1.23 billion, a PE ratio of 7.39 and a beta of 1.41.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same period last year, the company earned $0.76 earnings per share. G-III Apparel Group's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. StockNews.com raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Tuesday. Barclays lowered their target price on G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. UBS Group reduced their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Telsey Advisory Group reissued 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. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $32.20.
View Our Latest Stock Report on GIII
G-III Apparel Group Profile
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Free Report)
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.
See Also
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