Arrowstreet Capital Limited Partnership Trims Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Arrowstreet Capital Limited Partnership lessened its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 964,250 shares of the textile maker’s stock after selling 9,094 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.20% of G-III Apparel Group worth $31,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC purchased a new position in G-III Apparel Group during the fourth quarter valued at $49,000. Quarry LP purchased a new position in shares of G-III Apparel Group during the 3rd quarter valued at about $63,000. Smartleaf Asset Management LLC lifted its position 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 valued at $64,000 after buying an additional 1,412 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after acquiring an additional 1,460 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in G-III Apparel Group during the 3rd quarter worth approximately $152,000. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GIII. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 26th. UBS Group cut 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 note on Tuesday, March 4th. Guggenheim boosted their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp upped their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Barclays lowered their price target on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Trading Up 1.5 %

Shares of G-III Apparel Group stock opened at $27.90 on Thursday. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $28.32 and a 200-day moving average price of $30.34. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 7.32 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million for 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%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group 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.