Martingale Asset Management L P Raises Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Martingale Asset Management L P grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 13.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,875 shares of the textile maker’s stock after buying an additional 5,109 shares during the period. Martingale Asset Management L P owned approximately 0.10% of G-III Apparel Group worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of G-III Apparel Group in the 2nd quarter worth $42,000. CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of G-III Apparel Group in the 2nd quarter worth $78,000. Innealta Capital LLC purchased a new position in shares of G-III Apparel Group in the 2nd quarter worth $124,000. Finally, Quantbot Technologies LP bought a new stake in shares of G-III Apparel Group in the 3rd quarter worth about $181,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 0.0 %

Shares of GIII opened at $29.63 on Monday. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a 50-day moving average of $30.54 and a 200 day moving average of $28.48. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.41 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same quarter last year, the business posted $0.40 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Insider Activity

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction that occurred 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 owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price for the company. Barclays raised their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp raised their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

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.