Trexquant Investment LP Takes $3.90 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Trexquant Investment LP purchased a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 119,623 shares of the textile maker’s stock, valued at approximately $3,902,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GIII. AlphaQuest LLC bought a new position in shares of G-III Apparel Group during the fourth quarter valued at about $49,000. Quarry LP purchased a new position in shares of G-III Apparel Group during the third quarter valued at about $63,000. Smartleaf Asset Management LLC raised its position in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after acquiring an additional 1,412 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in G-III Apparel Group by 93.2% in the third 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 in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of G-III Apparel Group in the 4th quarter worth about $172,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 0.9 %

NASDAQ:GIII opened at $25.60 on Friday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 6.72 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 business has a fifty day moving average price of $28.07 and a 200-day moving average price of $30.25. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GIII shares. Barclays reduced their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, March 18th. KeyCorp increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. UBS Group cut their target price 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. Guggenheim increased their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 target price on shares of G-III Apparel Group in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group presently 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.