LSV Asset Management Sells 63,602 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

LSV Asset Management lowered its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,981 shares of the textile maker’s stock after selling 63,602 shares during the quarter. LSV Asset Management’s holdings in G-III Apparel Group were worth $24,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sanctuary Advisors LLC boosted its holdings in G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock worth $500,000 after acquiring an additional 631 shares during the last quarter. Vestcor Inc boosted its holdings in G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock worth $1,043,000 after purchasing an additional 665 shares during the last quarter. Atria Investments Inc grew its position in G-III Apparel Group by 9.1% in the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after purchasing an additional 673 shares in the last quarter. Smartleaf Asset Management LLC grew its position in G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Finally, AlphaQuest LLC purchased a new stake in G-III Apparel Group in the 4th quarter valued at about $49,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $24.67 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 6.48 and a beta of 1.63. The stock has a fifty day simple moving average of $27.04 and a two-hundred day simple moving average of $29.91. 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, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GIII shares. UBS Group cut their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research report on Friday, April 4th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays cut their price target on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.