Pacer Advisors Inc. Has $149.19 Million Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Pacer Advisors Inc. cut its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,888,341 shares of the textile maker’s stock after selling 378,322 shares during the quarter. Pacer Advisors Inc. owned 0.11% of G-III Apparel Group worth $149,192,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GIII. Foundry Partners LLC bought a new position in G-III Apparel Group in the 2nd quarter worth approximately $518,000. Caxton Associates LP boosted its holdings in G-III Apparel Group by 283.2% in the first quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock valued at $1,002,000 after acquiring an additional 25,535 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in G-III Apparel Group by 167.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock valued at $1,561,000 after acquiring an additional 33,690 shares during the last quarter. F M Investments LLC bought a new position in G-III Apparel Group in the second quarter valued at about $6,796,000. Finally, Dimensional Fund Advisors LP lifted its stake in G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after buying an additional 151,425 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GIII. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. KeyCorp lifted their target price on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Guggenheim initiated coverage on G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target for the company. Finally, Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.00.

Insider Transactions at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

G-III Apparel Group Price Performance

Shares of GIII opened at $28.56 on Thursday. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68. The firm has a fifty day simple moving average of $30.76 and a two-hundred day simple moving average of $28.40. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.25 billion, a PE ratio of 7.14 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS 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.