Intech Investment Management LLC Raises Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Intech Investment Management LLC raised its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 160.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,391 shares of the textile maker’s stock after buying an additional 24,900 shares during the period. Intech Investment Management LLC owned approximately 0.09% of G-III Apparel Group worth $1,318,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIII. AlphaQuest LLC purchased a new position in G-III Apparel Group in the 4th quarter valued at approximately $49,000. Quarry LP purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth $63,000. Smartleaf Asset Management LLC lifted its position in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth $152,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

Shares of GIII opened at $26.20 on Friday. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The stock has a market cap of $1.15 billion, a PE ratio of 6.88 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The firm has a fifty day moving average price of $28.89 and a 200 day moving average price of $30.46.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GIII. Telsey Advisory Group decreased their price objective on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. UBS Group decreased their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. KeyCorp lifted their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays decreased their price objective on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday. Finally, Guggenheim boosted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.