CANADA LIFE ASSURANCE Co Sells 2,934 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,846 shares of the textile maker’s stock after selling 2,934 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in G-III Apparel Group were worth $1,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of G-III Apparel Group during the fourth quarter worth $49,000. Smartleaf Asset Management LLC raised its holdings in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $172,000. Virtu Financial LLC bought a new stake in shares of G-III Apparel Group in the third quarter valued at about $211,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $215,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Trading Down 3.2 %

NASDAQ:GIII opened at $25.04 on Tuesday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.57 and a beta of 1.63. The firm has a 50 day moving average of $25.91 and a 200 day moving average of $29.50.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same quarter in the prior year, the business posted $0.76 EPS. G-III Apparel Group’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GIII. Barclays decreased their price objective on G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating for the company in a report on Monday. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. UBS Group lowered their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus price target of $32.20.

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.