Arrowstreet Capital Limited Partnership Trims Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Arrowstreet Capital Limited Partnership decreased its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 964,250 shares of the textile maker's stock after selling 9,094 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.20% of G-III Apparel Group worth $31,454,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GIII. American Century Companies Inc. raised its stake in shares of G-III Apparel Group by 11.8% during the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker's stock worth $47,672,000 after buying an additional 153,913 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in G-III Apparel Group by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker's stock worth $31,624,000 after acquiring an additional 6,598 shares in the last quarter. Geode Capital Management LLC raised its position in G-III Apparel Group by 1.2% during the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock worth $29,833,000 after acquiring an additional 11,196 shares during the period. Prudential Financial Inc. lifted its holdings in G-III Apparel Group by 2.6% during 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 in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of G-III Apparel Group by 513.2% in the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock valued at $18,430,000 after purchasing an additional 472,862 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

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G-III Apparel Group Price Performance

Shares of GIII stock traded up $0.22 during trading hours on Friday, reaching $25.60. The company had a trading volume of 1,268,283 shares, compared to its average volume of 542,504. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month 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. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 6.72 and a beta of 2.09. The stock has a fifty day moving average of $28.07 and a 200-day moving average of $30.27.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. During the same period in the prior year, the business earned $0.76 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Wall Street Analyst Weigh In

GIII has been the subject of several research analyst reports. KeyCorp upped their price target 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. Telsey Advisory Group reissued a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a report on Friday. UBS Group lowered their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Guggenheim boosted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Finally, StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Hold" and a consensus 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.