Exchange Traded Concepts LLC Reduces Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Exchange Traded Concepts LLC cut its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,690 shares of the textile maker's stock after selling 7,920 shares during the period. Exchange Traded Concepts LLC owned approximately 0.08% of G-III Apparel Group worth $1,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIII. Charles Schwab Investment Management Inc. grew its holdings in G-III Apparel Group by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker's stock valued at $31,624,000 after purchasing an additional 6,598 shares during the last quarter. Geode Capital Management LLC grew its stake in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker's stock valued at $29,833,000 after acquiring an additional 11,196 shares during the last quarter. Marshall Wace LLP increased its holdings in G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker's stock valued at $9,526,000 after acquiring an additional 206,993 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in G-III Apparel Group by 0.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 329,720 shares of the textile maker's stock valued at $10,063,000 after acquiring an additional 1,860 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of G-III Apparel Group by 54.3% in the third quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker's stock valued at $10,014,000 after purchasing an additional 115,491 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GIII. Barclays raised their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 11th. StockNews.com raised G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Friday, January 17th. KeyCorp increased their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Telsey Advisory Group reissued a "market perform" rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Finally, Guggenheim raised their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $33.17.

G-III Apparel Group Trading Up 0.6 %

Shares of NASDAQ GIII traded up $0.19 on Tuesday, reaching $32.37. 264,178 shares of the company traded hands, compared to its average volume of 433,769. The company has a 50 day moving average of $32.05 and a 200 day moving average of $29.92. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The stock has a market capitalization of $1.42 billion, a PE ratio of 8.50 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.33. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. G-III Apparel Group's revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.78 earnings per share. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

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.