94,383 Shares in G-III Apparel Group, Ltd. (NASDAQ:GIII) Acquired by Norges Bank

Norges Bank purchased a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 94,383 shares of the textile maker's stock, valued at approximately $3,079,000. Norges Bank owned approximately 0.22% of G-III Apparel Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GIII. AlphaQuest LLC purchased a new position in G-III Apparel Group in the fourth quarter worth approximately $49,000. Smartleaf Asset Management LLC raised its stake 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 valued at $64,000 after buying an additional 1,412 shares in the last quarter. Virtu Financial LLC acquired a new stake in G-III Apparel Group in the third quarter valued at $211,000. XTX Topco Ltd purchased a new stake in G-III Apparel Group during the 3rd quarter worth about $213,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter valued at about $215,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GIII shares. StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Barclays reduced their price target on shares of 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. Telsey Advisory Group reiterated a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. Finally, UBS Group decreased their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 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. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.00.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII traded up $0.12 on Wednesday, hitting $24.34. The company's stock had a trading volume of 31,340 shares, compared to its average volume of 550,426. 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 12-month low of $20.00 and a 12-month high of $36.18. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 6.37 and a beta of 1.63. The stock has a 50 day moving average of $26.80 and a 200-day moving average of $29.82.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS 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.