EMC Capital Management Buys 9,279 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

EMC Capital Management increased its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 345.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,965 shares of the textile maker’s stock after acquiring an additional 9,279 shares during the period. EMC Capital Management’s holdings in G-III Apparel Group were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vestcor Inc lifted its holdings in shares of G-III Apparel Group by 197.7% during the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after acquiring an additional 20,800 shares during the period. JPMorgan Chase & Co. increased its position in shares of G-III Apparel Group by 80.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock worth $4,075,000 after purchasing an additional 59,718 shares in the last quarter. Geode Capital Management LLC lifted its holdings in G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the last quarter. Sanctuary Advisors LLC boosted its position in G-III Apparel Group by 8.4% in the third quarter. Sanctuary Advisors LLC now owns 14,564 shares of the textile maker’s stock valued at $439,000 after buying an additional 1,126 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in G-III Apparel Group by 269.9% during the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after buying an additional 183,246 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII opened at $32.82 on Thursday. 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. The stock has a market capitalization of $1.44 billion, a P/E ratio of 8.62 and a beta of 2.09. The business has a 50-day moving average price of $32.13 and a two-hundred day moving average price of $29.94.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share 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 posted $2.78 earnings per share. G-III Apparel Group’s revenue was up 1.9% compared to the same quarter last year. Equities analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on GIII. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Barclays boosted their price objective on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. KeyCorp lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Guggenheim increased their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report 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 given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company 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.