Dimensional Fund Advisors LP Raises Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Dimensional Fund Advisors LP grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,376,310 shares of the textile maker’s stock after acquiring an additional 151,425 shares during the period. Dimensional Fund Advisors LP owned about 7.50% of G-III Apparel Group worth $91,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC grew its stake in 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 acquiring an additional 1,012 shares in the last quarter. Quest Partners LLC bought a new position in shares of G-III Apparel Group during the 4th quarter valued at about $56,000. Innealta Capital LLC purchased a new position in shares of G-III Apparel Group during the second quarter valued at about $124,000. Allspring Global Investments Holdings LLC bought a new stake in shares of G-III Apparel Group in the first quarter worth about $171,000. Finally, ProShare Advisors LLC lifted its position in shares of G-III Apparel Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after buying an additional 572 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GIII. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday. KeyCorp raised their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, Barclays increased 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 report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $30.05 on Thursday. The business’s 50 day moving average price is $27.42 and its 200-day moving average price is $27.69. 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 market cap of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. G-III Apparel Group’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share 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.