Acadian Asset Management LLC boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 78.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 366,587 shares of the textile maker’s stock after purchasing an additional 161,552 shares during the quarter. Acadian Asset Management LLC owned about 0.76% of G-III Apparel Group worth $4,806,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in GIII. First Trust Advisors LP raised its holdings in G-III Apparel Group by 204.4% during the 1st quarter. First Trust Advisors LP now owns 61,029 shares of the textile maker’s stock worth $2,439,000 after purchasing an additional 40,981 shares during the last quarter. Advisor Group Holdings Inc. bought a new stake in G-III Apparel Group during the 1st quarter worth about $45,000. Morgan Stanley raised its holdings in G-III Apparel Group by 136.4% during the 1st quarter. Morgan Stanley now owns 582,838 shares of the textile maker’s stock worth $4,488,000 after purchasing an additional 336,298 shares during the last quarter. State Street Corp raised its holdings in G-III Apparel Group by 23.5% during the 1st quarter. State Street Corp now owns 1,636,723 shares of the textile maker’s stock worth $12,603,000 after purchasing an additional 311,371 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in G-III Apparel Group by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 73,624 shares of the textile maker’s stock worth $978,000 after purchasing an additional 4,958 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.
Shares of GIII opened at $21.43 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.27 and a current ratio of 2.48. The stock has a 50 day simple moving average of $15.13 and a 200 day simple moving average of $12.80. G-III Apparel Group, Ltd. has a 52-week low of $2.96 and a 52-week high of $34.42. The firm has a market capitalization of $1.04 billion, a PE ratio of 15.76, a P/E/G ratio of 30.50 and a beta of 2.52.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, September 9th. The textile maker reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.45. G-III Apparel Group had a return on equity of 6.50% and a net margin of 2.57%. The business had revenue of $297.20 million during the quarter, compared to analyst estimates of $327.68 million. During the same period in the previous year, the firm earned $0.23 EPS. G-III Apparel Group’s quarterly revenue was down 53.8% compared to the same quarter last year. Equities research analysts predict that G-III Apparel Group, Ltd. will post 0.45 EPS for the current fiscal year.
GIII has been the subject of several recent research reports. B. Riley dropped their price objective on G-III Apparel Group from $25.00 to $23.00 in a report on Thursday, September 10th. Barclays upped their price target on G-III Apparel Group from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, October 7th. Telsey Advisory Group upped their price target on G-III Apparel Group from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, September 22nd. ValuEngine raised G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, BidaskClub cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $16.10.
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 in 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.
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