Empowered Funds LLC Acquires 11,478 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Empowered Funds LLC raised its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,601 shares of the textile maker's stock after acquiring an additional 11,478 shares during the period. Empowered Funds LLC owned approximately 0.77% of G-III Apparel Group worth $11,078,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GIII. EMC Capital Management boosted its stake in G-III Apparel Group by 345.5% during the 4th quarter. EMC Capital Management now owns 11,965 shares of the textile maker's stock valued at $390,000 after purchasing an additional 9,279 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $513,000. SG Americas Securities LLC boosted its position in shares of G-III Apparel Group by 124.1% in the fourth quarter. SG Americas Securities LLC now owns 16,482 shares of the textile maker's stock valued at $538,000 after acquiring an additional 9,128 shares during the period. Range Financial Group LLC acquired a new stake in shares of G-III Apparel Group in the fourth quarter worth $303,000. Finally, JPMorgan Chase & Co. increased its position in G-III Apparel Group by 80.9% during the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock worth $4,075,000 after acquiring an additional 59,718 shares during the period. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Price Performance

NASDAQ GIII traded down $0.76 during trading on Wednesday, reaching $29.25. 295,860 shares of the company traded hands, compared to its average volume of 401,541. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 7.68 and a beta of 2.07. The stock's 50 day moving average price is $32.10 and its two-hundred day moving average price is $30.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned $2.78 EPS. G-III Apparel Group's quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Wall Street Analyst Weigh In

GIII has been the subject of a number of research reports. KeyCorp increased their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a report on Wednesday, December 11th. StockNews.com upgraded shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Friday, January 17th. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an "underweight" rating in a research note on Wednesday, December 11th. Guggenheim raised their price objective 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, Telsey Advisory Group reissued a "market perform" rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $33.17.

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.