Point72 Asset Management L.P. Raises Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Point72 Asset Management L.P. lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 111.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 381,126 shares of the textile maker’s stock after buying an additional 201,126 shares during the quarter. Point72 Asset Management L.P.’s holdings in G-III Apparel Group were worth $12,432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GIII. American Century Companies Inc. raised its holdings in G-III Apparel Group by 11.8% in the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock valued at $47,672,000 after acquiring an additional 153,913 shares during the last quarter. Prudential Financial Inc. increased its stake in G-III Apparel Group by 2.6% in the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after purchasing an additional 19,723 shares during the last quarter. Marshall Wace LLP lifted its position in G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock worth $24,989,000 after buying an additional 341,870 shares during the period. Victory Capital Management Inc. boosted its stake in G-III Apparel Group by 513.2% in the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after buying an additional 472,862 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in G-III Apparel Group by 21.8% in the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker’s stock valued at $16,993,000 after buying an additional 93,263 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

GIII opened at $28.13 on Monday. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The company has a 50 day moving average of $25.84 and a two-hundred day moving average of $29.02. The company has a market cap of $1.23 billion, a P/E ratio of 7.38 and a beta of 1.41. 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 (NASDAQ:GIII) last posted its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business posted $0.76 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Analysts Set New Price Targets

GIII has been the topic of several recent analyst reports. Barclays cut their price objective on shares of G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, April 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 4th. UBS Group dropped their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $32.20.

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.