KLP Kapitalforvaltning AS Invests $806,000 in G-III Apparel Group, Ltd. (NASDAQ:GIII)

KLP Kapitalforvaltning AS purchased a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 24,700 shares of the textile maker's stock, valued at approximately $806,000. KLP Kapitalforvaltning AS owned 0.06% of G-III Apparel Group as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GIII. AlphaQuest LLC bought a new stake in G-III Apparel Group in the fourth quarter worth $49,000. Quarry LP bought a new position in shares of G-III Apparel Group in the 3rd quarter valued at about $63,000. Smartleaf Asset Management LLC grew 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. Point72 Asia Singapore Pte. Ltd. increased its stake in G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock worth $92,000 after acquiring an additional 1,460 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of G-III Apparel Group in the 3rd quarter valued at approximately $152,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GIII has been the subject of a number of analyst reports. Barclays lowered 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 report on Tuesday, March 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 report on Wednesday, December 11th. UBS Group reduced their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Guggenheim upped 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 report on Wednesday, December 11th. Finally, StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $33.00.

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G-III Apparel Group Stock Up 1.3 %

GIII stock traded up $0.33 during trading on Friday, hitting $25.71. 573,054 shares of the company's stock traded hands, compared to its average volume of 548,883. The firm has a market capitalization of $1.13 billion, a P/E ratio of 6.75 and a beta of 2.09. 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 quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $28.20 and a two-hundred day simple moving average of $30.31.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to the consensus estimate 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 was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. Sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

About G-III Apparel Group

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.