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

Invesco Ltd. cut its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 899,955 shares of the textile maker’s stock after selling 37,508 shares during the quarter. Invesco Ltd.’s holdings in G-III Apparel Group were worth $29,357,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC bought a new stake in shares of G-III Apparel Group in the fourth quarter worth $49,000. Smartleaf Asset Management LLC increased its position in shares of 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 during the last quarter. Headlands Technologies LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter worth about $172,000. Virtu Financial LLC acquired a new stake in shares of G-III Apparel Group in the 3rd quarter valued at about $211,000. Finally, XTX Topco Ltd bought a new position in shares of G-III Apparel Group during the third quarter worth about $213,000. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Price Performance

Shares of GIII opened at $24.22 on Friday. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a market cap of $1.06 billion, a P/E ratio of 6.36 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The stock has a fifty day moving average price of $26.57 and a 200 day moving average price of $29.74.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. 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 business posted $0.76 EPS. G-III Apparel Group’s revenue was up 9.8% on a year-over-year basis. On average, research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GIII shares. Barclays cut their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 18th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. Finally, UBS Group dropped their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.