Gotham Asset Management LLC Buys 2,347 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Gotham Asset Management LLC raised its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 32.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,473 shares of the textile maker’s stock after purchasing an additional 2,347 shares during the period. Gotham Asset Management LLC’s holdings in G-III Apparel Group were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its holdings in G-III Apparel Group by 11.8% during the fourth quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock valued at $47,672,000 after purchasing an additional 153,913 shares during the period. Prudential Financial Inc. grew its holdings in G-III Apparel Group by 2.6% during the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after purchasing an additional 19,723 shares during the period. Marshall Wace LLP grew its holdings in G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after purchasing an additional 341,870 shares during the period. Victory Capital Management Inc. grew its holdings in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after purchasing an additional 472,862 shares during the period. Finally, Northern Trust Corp grew its holdings in G-III Apparel Group by 21.8% during the fourth quarter. Northern Trust Corp now owns 520,931 shares of the textile maker’s stock valued at $16,993,000 after purchasing an additional 93,263 shares during the period. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $28.42 on Wednesday. The stock has a 50 day moving average of $25.95 and a 200 day moving average of $29.00. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The firm has a market cap of $1.25 billion, a PE ratio of 7.46 and a beta of 1.41. 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 results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GIII. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Barclays dropped their price objective on G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating for the company in a research note on Monday, April 28th. Finally, UBS Group dropped their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.20.

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.