Free Trial

JPMorgan Chase & Co. Purchases 59,718 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

G-III Apparel Group logo with Consumer Discretionary background

JPMorgan Chase & Co. lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 80.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,518 shares of the textile maker's stock after purchasing an additional 59,718 shares during the period. JPMorgan Chase & Co. owned 0.30% of G-III Apparel Group worth $4,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GIII. Franklin Resources Inc. boosted its holdings in shares of G-III Apparel Group by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker's stock worth $1,682,000 after buying an additional 3,806 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of G-III Apparel Group by 8.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker's stock valued at $439,000 after acquiring an additional 1,126 shares during the period. Virtu Financial LLC purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth approximately $211,000. Geode Capital Management LLC raised its holdings in shares of 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 worth $29,833,000 after purchasing an additional 11,196 shares during the period. Finally, Vestcor Inc raised its holdings 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 purchasing an additional 20,800 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Price Performance

NASDAQ:GIII traded up $0.32 during trading hours on Friday, hitting $30.91. The stock had a trading volume of 316,958 shares, compared to its average volume of 498,402. The company has a 50 day simple moving average of $31.89 and a two-hundred day simple moving average of $29.62. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 8.11 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. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.78 earnings per share. Research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GIII shares. StockNews.com raised G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Friday. Telsey Advisory Group reiterated 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. KeyCorp upped 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 research note on Wednesday, December 11th. Barclays lifted their price objective on shares of 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. Finally, Guggenheim increased their target price 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. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, G-III Apparel Group has an average rating of "Hold" and a consensus price target of $33.17.

Read Our Latest Report on G-III Apparel Group

About G-III Apparel Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

Should You Invest $1,000 in G-III Apparel Group Right Now?

Before you consider G-III Apparel Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and G-III Apparel Group wasn't on the list.

While G-III Apparel Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Crypto Boom 2025: Bitcoin’s Rise and Trump’s Impact on the Market
Goldman Sachs’ 2025 Market Outlook: Top 3 Stock Picks
7 Stocks to Benefit From Trump’s Tariffs in 2025

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines