Y Intercept Hong Kong Ltd Takes $308,000 Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Y Intercept Hong Kong Ltd acquired a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,088 shares of the textile maker’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in G-III Apparel Group during the 2nd quarter worth $42,000. CWM LLC raised its stake in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares in the last quarter. Quarry LP acquired a new stake in G-III Apparel Group in the third quarter worth about $63,000. Point72 DIFC Ltd bought a new position in G-III Apparel Group in the 2nd quarter valued at about $78,000. Finally, Innealta Capital LLC acquired a new position in G-III Apparel Group during the 2nd quarter valued at about $124,000. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Price Performance

GIII opened at $35.48 on Wednesday. The firm has a market capitalization of $1.56 billion, a P/E ratio of 9.31 and a beta of 2.14. The stock has a fifty day moving average of $31.31 and a 200-day moving average of $28.89. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. 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 released its earnings results 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 company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the firm earned $2.78 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Equities analysts forecast that G-III Apparel Group, Ltd. will post 4.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Morris Goldfarb sold 67,014 shares of the firm’s 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 directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.40% of the company’s stock.

Analyst Ratings Changes

GIII has been the subject of a number of research analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $32.00 price target on shares of G-III Apparel Group in a research note on Tuesday, December 10th. Guggenheim upped their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays lifted their price target 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. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Finally, KeyCorp boosted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.17.

G-III Apparel Group Company 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.