Hsbc Holdings PLC Boosts Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Hsbc Holdings PLC raised its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 101.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,838 shares of the textile maker's stock after acquiring an additional 41,118 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of G-III Apparel Group worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIII. Sanctuary Advisors LLC increased its position in shares of G-III Apparel Group by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock worth $500,000 after purchasing an additional 631 shares in the last quarter. Vestcor Inc grew its stake in G-III Apparel Group by 2.1% during the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock worth $1,043,000 after buying an additional 665 shares during the last quarter. Atria Investments Inc increased its position in G-III Apparel Group by 9.1% during 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 in the last quarter. Sterling Capital Management LLC boosted its holdings in G-III Apparel Group by 7.8% in the fourth quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock worth $493,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock traded up $0.03 during trading on Tuesday, hitting $25.48. 21,182 shares of the company's stock were exchanged, compared to its average volume of 553,577. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 6.69 and a beta of 1.41. The business has a 50-day simple moving average of $25.67 and a 200-day simple moving average of $29.26.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GIII shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research report on Friday, April 4th. UBS Group lowered their price objective 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. Barclays reduced their target price on 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, StockNews.com downgraded G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 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 MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $32.20.

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.