G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 124,819 shares of the textile maker’s stock after selling 3,789 shares during the period. Rhumbline Advisers’ holdings in G-III Apparel Group were worth $4,072,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GIII. Quarry LP purchased a new position in shares of G-III Apparel Group during the 3rd quarter worth approximately $63,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after buying an additional 1,460 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of G-III Apparel Group during the 3rd quarter valued at $152,000. Point72 DIFC Ltd increased its holdings in G-III Apparel Group by 103.2% in the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 2,957 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in G-III Apparel Group in the 3rd quarter valued at $181,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

Shares of GIII opened at $27.07 on Friday. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.11 and a beta of 2.07. The firm has a fifty day simple moving average of $30.79 and a 200 day simple moving average of $30.42. 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) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company posted $2.78 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GIII. Guggenheim upped their price objective 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. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research note on Wednesday, December 18th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. KeyCorp raised 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, Barclays raised their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $33.17.

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.