Centiva Capital LP Boosts Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Centiva Capital LP boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 145.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 33,675 shares of the textile maker’s stock after purchasing an additional 19,945 shares during the quarter. Centiva Capital LP owned about 0.08% of G-III Apparel Group worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GIII. 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. Point72 Hong Kong Ltd purchased a new position in G-III Apparel Group in the 3rd quarter worth approximately $152,000. Verition Fund Management LLC purchased a new position in G-III Apparel Group in the 3rd quarter worth approximately $904,000. Martingale Asset Management L P lifted its position in G-III Apparel Group by 13.5% in the 3rd quarter. Martingale Asset Management L P now owns 42,875 shares of the textile maker’s stock valued at $1,309,000 after acquiring an additional 5,109 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in G-III Apparel Group during the 3rd quarter valued at $225,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Down 2.1 %

Shares of GIII stock opened at $31.04 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $35.68. The stock has a market cap of $1.36 billion, a P/E ratio of 7.76 and a beta of 2.14. The company has a 50 day simple moving average of $30.57 and a two-hundred day simple moving average of $28.55.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. On average, research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday. KeyCorp raised their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Guggenheim began coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective for the company. Telsey Advisory Group restated a “market perform” rating and set a $32.00 price objective on shares of G-III Apparel Group in a research report on Wednesday. Finally, Barclays lifted their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.50.

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.