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

Intech Investment Management LLC increased its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 160.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,391 shares of the textile maker's stock after acquiring an additional 24,900 shares during the quarter. Intech Investment Management LLC owned about 0.09% of G-III Apparel Group worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. New York State Common Retirement Fund increased its stake in shares of G-III Apparel Group by 46.6% during the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker's stock valued at $1,438,000 after purchasing an additional 14,016 shares in the last quarter. Vestcor Inc grew its stake in shares of G-III Apparel Group by 197.7% in the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker's stock worth $956,000 after buying an additional 20,800 shares during the last quarter. JPMorgan Chase & Co. increased its position in G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker's stock valued at $4,075,000 after buying an additional 59,718 shares in the last quarter. Victory Capital Management Inc. increased its position in G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker's stock valued at $18,430,000 after buying an additional 472,862 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in G-III Apparel Group by 1.2% in 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 in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GIII. UBS Group reduced their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Guggenheim raised their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Barclays decreased their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a report on Tuesday, March 18th. StockNews.com cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Finally, 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 report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's 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 Stock Performance

Shares of GIII stock traded up $0.15 during trading hours on Wednesday, reaching $27.26. The company had a trading volume of 555,598 shares, compared to its average volume of 523,435. 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 business has a fifty day moving average price of $28.76 and a 200-day moving average price of $30.48. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The firm has a market cap of $1.20 billion, a PE ratio of 7.15 and a beta of 2.09.

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

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.