Bridgefront Capital LLC Takes Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Bridgefront Capital LLC purchased a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,638 shares of the textile maker’s stock, valued at approximately $249,000.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. lifted its position in G-III Apparel Group by 11.8% during the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock worth $47,672,000 after acquiring an additional 153,913 shares during the period. Prudential Financial Inc. boosted its position in G-III Apparel Group by 2.6% during the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock worth $25,197,000 after purchasing an additional 19,723 shares in the last quarter. Marshall Wace LLP increased its holdings in G-III Apparel Group by 80.6% during the 4th quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after acquiring an additional 341,870 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of G-III Apparel Group by 513.2% during the 4th quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after purchasing an additional 472,862 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of G-III Apparel Group by 21.8% in the fourth quarter. Northern Trust Corp now owns 520,931 shares of the textile maker’s stock valued at $16,993,000 after acquiring an additional 93,263 shares in the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GIII shares. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 9th. UBS Group cut their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Barclays lowered their price target on shares of G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating for the company in a report on Monday, April 28th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and a consensus target price of $32.20.

G-III Apparel Group Trading Up 2.8 %

Shares of GIII stock opened at $26.75 on Friday. The stock has a fifty day moving average of $25.63 and a two-hundred day moving average of $29.18. The firm has a market capitalization of $1.17 billion, a PE ratio of 7.02 and a beta of 1.41. 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 1 year low of $20.66 and a 1 year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. During the same period in the prior year, the business earned $0.76 earnings per share. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, research analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

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.