Trexquant Investment LP Buys New Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Trexquant Investment LP bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 119,623 shares of the textile maker's stock, valued at approximately $3,902,000. Trexquant Investment LP owned approximately 0.27% of G-III Apparel Group at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in G-III Apparel Group during the 3rd quarter worth approximately $904,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock valued at $92,000 after purchasing an additional 1,460 shares during the period. Point72 Asset Management L.P. grew its stake in G-III Apparel Group by 102.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 180,000 shares of the textile maker's stock worth $5,494,000 after purchasing an additional 90,993 shares in the last quarter. Point72 DIFC Ltd increased its holdings in G-III Apparel Group by 103.2% during the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker's stock worth $178,000 after purchasing an additional 2,957 shares during the period. Finally, Quarry LP purchased a new position in shares of G-III Apparel Group in the 3rd quarter valued at about $63,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on GIII. KeyCorp boosted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. 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 note on Tuesday, March 4th. StockNews.com cut shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday. Guggenheim increased their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Finally, Barclays reduced their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, G-III Apparel Group presently has an average rating of "Hold" and an average price target of $33.00.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII traded down $0.62 during trading on Thursday, hitting $24.52. 273,792 shares of the stock were exchanged, compared to its average volume of 549,124. The company has a market cap of $1.08 billion, a PE ratio of 6.44 and a beta of 1.63. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The company has a fifty day moving average price of $27.24 and a two-hundred day moving average price of $29.99. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million during 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 company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. On average, analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current 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.