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

Pacer Advisors Inc. cut its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 42.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,808,702 shares of the textile maker’s stock after selling 2,079,639 shares during the quarter. Pacer Advisors Inc. owned 6.40% of G-III Apparel Group worth $91,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GIII. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the second quarter worth approximately $42,000. Quarry LP acquired a new position in G-III Apparel Group during the 3rd quarter worth approximately $63,000. CWM LLC increased its position in shares of G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after purchasing an additional 885 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group in the 2nd quarter valued at $78,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth $152,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 1.4 %

G-III Apparel Group stock opened at $31.89 on Monday. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 8.37 and a beta of 2.09. 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. The stock’s fifty day moving average is $31.94 and its two-hundred day moving average is $29.84.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly 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 net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned $2.78 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on GIII shares. Telsey Advisory Group reissued a “market perform” rating and set a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Guggenheim lifted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. 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. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Barclays upped their target price on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $33.17.

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.