Quantbot Technologies LP Buys 20,485 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Quantbot Technologies LP grew its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 344.7% during the 4th quarter, HoldingsChannel reports. The fund owned 26,427 shares of the textile maker’s stock after purchasing an additional 20,485 shares during the quarter. Quantbot Technologies LP’s holdings in G-III Apparel Group were worth $862,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. AlphaQuest LLC purchased a new position in shares of G-III Apparel Group in the 4th quarter worth about $49,000. Quarry LP purchased a new position in G-III Apparel Group in the third quarter worth about $63,000. Smartleaf Asset Management LLC lifted its stake in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after buying an additional 1,412 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after buying an additional 1,460 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $152,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Up 0.6 %

Shares of NASDAQ:GIII opened at $27.26 on Thursday. The stock’s 50-day simple moving average is $28.68 and its two-hundred day simple moving average is $30.46. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 7.15 and a beta of 2.09. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. 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 (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.30. The company had revenue of $839.50 million for the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. Analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GIII. Guggenheim boosted their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Wednesday. Telsey Advisory Group reduced their price objective on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 14th. UBS Group decreased their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, KeyCorp lifted 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 note on Wednesday, December 11th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

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.