JPMorgan Chase & Co. Purchases 100,395 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

JPMorgan Chase & Co. raised its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 75.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,913 shares of the textile maker's stock after purchasing an additional 100,395 shares during the quarter. JPMorgan Chase & Co. owned about 0.53% of G-III Apparel Group worth $7,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC acquired a new position in G-III Apparel Group during the 4th quarter worth $49,000. Smartleaf Asset Management LLC raised its position in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares in the last quarter. Virtu Financial LLC bought a new position in shares of G-III Apparel Group during the 3rd quarter valued at about $211,000. XTX Topco Ltd acquired a new position in shares of G-III Apparel Group in the 3rd quarter worth approximately $213,000. Finally, Wealthfront Advisers LLC bought a new position in shares of G-III Apparel Group in the fourth quarter valued at $215,000. Institutional investors own 92.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group dropped 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. Barclays cut their price target on G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a research note on Tuesday, March 18th. StockNews.com downgraded G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, G-III Apparel Group has a consensus rating of "Hold" and an average price target of $33.00.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII traded down $0.11 during trading on Tuesday, reaching $24.49. The stock had a trading volume of 25,291 shares, compared to its average volume of 576,509. The business's 50-day moving average price is $26.36 and its 200 day moving average price is $29.67. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The stock has a market capitalization of $1.07 billion, a PE ratio of 6.43 and a beta of 1.63. 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 (NASDAQ:GIII - Get Free Report) last announced its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping the consensus estimate of $0.97 by $0.30. The company had revenue of $839.50 million for the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, equities analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current 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.