Tabor Asset Management LP Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Tabor Asset Management LP bought a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 41,229 shares of the textile maker's stock, valued at approximately $1,258,000. Tabor Asset Management LP owned about 0.09% of G-III Apparel Group at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GIII. Guidance Capital Inc. increased its stake in shares of G-III Apparel Group by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker's stock worth $563,000 after purchasing an additional 331 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in shares of G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker's stock worth $1,023,000 after purchasing an additional 516 shares in the last quarter. CWM LLC increased its stake in shares of G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker's stock worth $85,000 after purchasing an additional 885 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in G-III Apparel Group by 93.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock worth $92,000 after buying an additional 1,460 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in G-III Apparel Group by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,911 shares of the textile maker's stock worth $897,000 after buying an additional 1,485 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. This trade represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.40% of the company's stock.

G-III Apparel Group Trading Up 0.6 %

Shares of NASDAQ:GIII traded up $0.18 during trading on Friday, reaching $31.22. 166,883 shares of the company were exchanged, compared to its average volume of 557,157. The firm has a market capitalization of $1.37 billion, a PE ratio of 7.81 and a beta of 2.14. The business's fifty day simple moving average is $30.59 and its 200-day simple moving average is $28.57. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. KeyCorp upped their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Guggenheim assumed coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They set a "buy" rating and a $36.00 price objective for the company. Telsey Advisory Group reissued a "market perform" rating and set a $32.00 price objective on shares of G-III Apparel Group in a report on Wednesday. StockNews.com raised shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Monday. Finally, Barclays increased their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an "underweight" rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $30.50.

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.