G-III Apparel Group, Ltd. (NASDAQ:GIII) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 26.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 57,936 shares of the textile maker’s stock after acquiring an additional 12,006 shares during the period. Hsbc Holdings PLC owned 0.13% of G-III Apparel Group worth $1,565,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CWM LLC lifted its holdings in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares during the last quarter. Quest Partners LLC purchased a new stake in G-III Apparel Group during the fourth quarter valued at about $56,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group during the second quarter valued at about $124,000. Allspring Global Investments Holdings LLC purchased a new stake in G-III Apparel Group during the first quarter valued at about $171,000. Finally, ProShare Advisors LLC lifted its stake in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by corporate insiders.

G-III Apparel Group Price Performance

Shares of GIII opened at $30.05 on Friday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 7.87 and a beta of 2.19. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week 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. The business’s 50-day moving average is $27.59 and its 200-day moving average is $27.72.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating 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 the consensus estimate of $649.54 million. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on GIII shares. Barclays upped 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 research note on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. KeyCorp upped 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 note on Friday, September 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and an average target price of $28.80.

About G-III Apparel Group

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.