Two Sigma Investments LP Buys 8,211 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Two Sigma Investments LP raised its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 16.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,381 shares of the textile maker’s stock after acquiring an additional 8,211 shares during the period. Two Sigma Investments LP owned approximately 0.13% of G-III Apparel Group worth $1,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GIII. AlphaQuest LLC purchased a new stake in shares of G-III Apparel Group during the 4th quarter valued at about $49,000. Smartleaf Asset Management LLC raised its position in G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock valued at $117,000 after purchasing an additional 564 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of G-III Apparel Group during the 4th quarter valued at approximately $172,000. Finally, Wealthfront Advisers LLC purchased a new stake in G-III Apparel Group during the 4th quarter valued at $215,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

Shares of GIII opened at $28.70 on Tuesday. The stock has a market capitalization of $1.26 billion, a PE ratio of 7.53 and a beta of 1.41. The company has a 50 day moving average price of $26.17 and a 200-day moving average price of $28.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same period in the previous year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays cut their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a report on Monday, April 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $30.00 target price on shares of G-III Apparel Group in a research note on Monday. Wall Street Zen upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, UBS Group decreased their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

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.