Zacks Investment Management Takes $1.19 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zacks Investment Management acquired a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 36,330 shares of the textile maker’s stock, valued at approximately $1,185,000. Zacks Investment Management owned about 0.08% of G-III Apparel Group at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth $49,000. Smartleaf Asset Management LLC lifted its position in 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 valued at $64,000 after purchasing an additional 1,412 shares in the last quarter. Headlands Technologies LLC bought a new stake in G-III Apparel Group during the fourth quarter valued at about $172,000. Virtu Financial LLC purchased a new stake in G-III Apparel Group in the third quarter worth about $211,000. Finally, XTX Topco Ltd bought a new position in shares of G-III Apparel Group in the third quarter worth about $213,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $24.22 on Friday. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 6.36 and a beta of 1.63. The firm has a fifty day moving average price of $26.46 and a 200 day moving average price of $29.69. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two 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.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 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 the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. As a group, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GIII. UBS Group cut their price objective 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. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 9th. Telsey Advisory Group restated a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a research report on Friday, April 4th. Finally, Barclays cut their price target on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. One equities research analyst has 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. According to MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and an average target price of $33.00.

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.