Victory Capital Management Inc. Grows Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Victory Capital Management Inc. lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 513.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 564,998 shares of the textile maker's stock after purchasing an additional 472,862 shares during the quarter. Victory Capital Management Inc. owned about 1.29% of G-III Apparel Group worth $18,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIII. Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 1,412 shares during the last quarter. Quarry LP purchased a new position in G-III Apparel Group during the third quarter valued at $63,000. 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 worth $92,000 after acquiring an additional 1,460 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of G-III Apparel Group during the third quarter valued at $152,000. Finally, Point72 DIFC Ltd increased its holdings in shares of G-III Apparel Group by 103.2% during the third quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker's stock valued at $178,000 after acquiring an additional 2,957 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on GIII shares. KeyCorp increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. UBS Group reduced their price target on shares of 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. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $38.00 price objective on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Barclays upped their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the company an "underweight" rating in a research report on Wednesday, December 11th. Finally, StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, G-III Apparel Group presently has an average rating of "Hold" and a consensus target price of $33.33.

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G-III Apparel Group Price Performance

NASDAQ GIII opened at $25.92 on Wednesday. The business's fifty day moving average is $29.83 and its 200 day moving average is $30.51. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The company has a market capitalization of $1.14 billion, a PE ratio of 6.80 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.78 EPS. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share 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.

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