G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 72.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,505 shares of the textile maker’s stock after selling 91,433 shares during the quarter. Phocas Financial Corp.’s holdings in G-III Apparel Group were worth $1,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GIII. Barclays PLC raised its holdings in G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Jane Street Group LLC increased its position in G-III Apparel Group by 269.9% during the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after purchasing an additional 183,246 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of G-III Apparel Group in the 3rd quarter valued at approximately $3,671,000. Empowered Funds LLC boosted its position in shares of G-III Apparel Group by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker’s stock worth $10,014,000 after purchasing an additional 115,491 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in G-III Apparel Group by 102.2% in the third quarter. Point72 Asset Management L.P. now owns 180,000 shares of the textile maker’s stock valued at $5,494,000 after buying an additional 90,993 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Down 3.5 %

GIII opened at $27.04 on Wednesday. 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 1 year low of $20.66 and a 1 year high of $36.18. The firm has a 50 day moving average price of $31.20 and a 200 day moving average price of $30.46. The company has a market cap of $1.19 billion, a PE ratio of 7.10 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $2.78 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GIII shares. Barclays raised their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Guggenheim lifted their price objective 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. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. KeyCorp upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.17.

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.