Squarepoint Ops LLC Reduces Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Squarepoint Ops LLC reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 20.6% in the 2nd quarter, Holdings Channel reports. The firm owned 82,727 shares of the textile maker’s stock after selling 21,444 shares during the period. Squarepoint Ops LLC’s holdings in G-III Apparel Group were worth $2,239,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. CWM LLC lifted its stake in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after buying an additional 1,012 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in G-III Apparel Group in the 2nd quarter valued at $78,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group in the 2nd quarter valued at $124,000. Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group during the 1st quarter worth $171,000. Finally, ProShare Advisors LLC grew its position in G-III Apparel Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after purchasing an additional 572 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GIII shares. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp increased their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Barclays increased their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and a consensus target price of $28.80.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $28.49 on Friday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 7.46 and a beta of 2.19. The business’s 50 day moving average is $27.80 and its two-hundred day moving average is $27.75. 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 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) last announced its quarterly earnings data 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 firm had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. G-III Apparel Group’s quarterly revenue was down 2.3% on a year-over-year basis. Research analysts expect that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now directly owns 3,990,085 shares in the company, valued at $126,046,785.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 12.40% of the company’s stock.

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.