Cornerstone Investment Partners LLC Invests $224,000 in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Cornerstone Investment Partners LLC bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) in the fourth quarter, HoldingsChannel.com reports. The fund bought 6,877 shares of the textile maker’s stock, valued at approximately $224,000.

Several other large investors also recently bought and sold shares of the business. Vestcor Inc lifted its position in 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 purchasing an additional 20,800 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of G-III Apparel Group by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after acquiring an additional 59,718 shares during the last quarter. Geode Capital Management LLC grew its position in G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after acquiring an additional 11,196 shares in the last quarter. EMC Capital Management grew its position in G-III Apparel Group by 345.5% in the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker’s stock worth $390,000 after acquiring an additional 9,279 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in G-III Apparel Group during the fourth quarter worth approximately $513,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

GIII stock opened at $25.44 on Wednesday. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 6.68 and a beta of 2.07. The business’s fifty day simple moving average is $30.50 and its two-hundred day simple moving average is $30.51. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, topping the consensus estimate of $2.26 by $0.33. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 EPS. Analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GIII shares. UBS Group lowered their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday. Telsey Advisory Group restated a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Guggenheim boosted their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. KeyCorp raised their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Barclays upped their price target on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $33.33.

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.