Quarry LP Takes $63,000 Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Quarry LP bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,080 shares of the textile maker’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of G-III Apparel Group in the second quarter valued at approximately $42,000. CWM LLC grew its stake in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares during the period. Point72 DIFC Ltd acquired a new position in G-III Apparel Group in the 2nd quarter valued at $78,000. Innealta Capital LLC purchased a new position in shares of G-III Apparel Group during the 2nd quarter worth $124,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of G-III Apparel Group during the third quarter worth $152,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 12.40% of the company’s stock.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $31.58 on Tuesday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 7.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68. The business has a 50-day moving average of $30.64 and a 200-day moving average of $28.64.

Wall Street Analyst Weigh In

Several research firms recently commented on GIII. Telsey Advisory Group reiterated a “market perform” rating and issued a $32.00 target price on shares of G-III Apparel Group in a research note on Wednesday, December 4th. KeyCorp increased their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Guggenheim assumed coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price for the company. Barclays upped their price target 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. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.50.

G-III Apparel Group 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.