Point72 Asset Management L.P. Has $5.49 Million Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Point72 Asset Management L.P. grew its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 102.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the textile maker's stock after purchasing an additional 90,993 shares during the period. Point72 Asset Management L.P. owned approximately 0.41% of G-III Apparel Group worth $5,494,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker's stock worth $91,396,000 after buying an additional 151,425 shares during the last quarter. American Century Companies Inc. raised its position in shares of G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker's stock worth $31,054,000 after purchasing an additional 155,079 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of G-III Apparel Group by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker's stock valued at $31,624,000 after purchasing an additional 6,598 shares during the last quarter. LSV Asset Management lifted its holdings in shares of G-III Apparel Group by 0.6% during the second quarter. LSV Asset Management now owns 851,683 shares of the textile maker's stock valued at $23,055,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in G-III Apparel Group by 142.8% in the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker's stock worth $9,526,000 after purchasing an additional 206,993 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of the business's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GIII has been the topic of a number of research analyst reports. StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Monday, December 2nd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $32.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 4th. Barclays increased their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th. KeyCorp boosted their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, Guggenheim began coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They issued a "buy" rating and a $36.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.50.

G-III Apparel Group Stock Down 0.1 %

Shares of NASDAQ:GIII traded down $0.04 during trading on Monday, hitting $31.38. 352,748 shares of the company's stock traded hands, compared to its average volume of 556,997. The company has a 50-day moving average price of $30.62 and a 200-day moving average price of $28.61. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $35.68. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 7.86 and a beta of 2.14. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter last year, the company earned $0.40 earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

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.