Marshall Wace LLP Boosts Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Marshall Wace LLP lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 80.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 766,068 shares of the textile maker's stock after purchasing an additional 341,870 shares during the period. Marshall Wace LLP owned 1.75% of G-III Apparel Group worth $24,989,000 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. Sanctuary Advisors LLC boosted its stake in shares of G-III Apparel Group by 4.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock worth $500,000 after buying an additional 631 shares during the last quarter. Vestcor Inc grew its stake in G-III Apparel Group by 2.1% in the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after purchasing an additional 665 shares during the period. Atria Investments Inc increased its position in shares of G-III Apparel Group by 9.1% during the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after purchasing an additional 673 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of G-III Apparel Group by 7.8% during the 4th quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock worth $493,000 after purchasing an additional 1,090 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock valued at $64,000 after buying an additional 1,412 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

G-III Apparel Group stock opened at $24.22 on Friday. The firm has a market capitalization of $1.06 billion, a P/E ratio of 6.36 and a beta of 1.63. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The business has a fifty day moving average price of $26.46 and a 200-day moving average price of $29.70.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued 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. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. During the same quarter last year, the company earned $0.76 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group dropped their target price on shares of 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 reduced their price objective on 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. Telsey Advisory Group restated a "market perform" rating and issued a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. Finally, StockNews.com downgraded G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of "Hold" and a consensus target price of $33.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.