Range Financial Group LLC Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Range Financial Group LLC purchased a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,287 shares of the textile maker’s stock, valued at approximately $303,000.

A number of other hedge funds have also bought and sold shares of the business. Vestcor Inc grew its holdings in shares of G-III Apparel Group by 197.7% during the 3rd quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock worth $956,000 after purchasing an additional 20,800 shares in the last quarter. Geode Capital Management LLC increased its holdings in G-III Apparel Group by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after buying an additional 11,196 shares during the period. Sanctuary Advisors LLC raised its position in shares of G-III Apparel Group by 8.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of G-III Apparel Group by 269.9% during the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after acquiring an additional 183,246 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock worth $2,812,000 after acquiring an additional 4,294 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GIII has been the subject of several research analyst reports. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday, December 2nd. Barclays upped their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Guggenheim lifted their target price on 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. KeyCorp increased their target price 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. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $32.36 on Wednesday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.49 and a beta of 2.09. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $31.79 and its 200-day moving average price is $29.42. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business earned $2.78 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

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.