Point72 Asia Singapore Pte. Ltd. Purchases 564 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Point72 Asia Singapore Pte. Ltd. lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 18.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,590 shares of the textile maker’s stock after purchasing an additional 564 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in G-III Apparel Group were worth $117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GIII. Victory Capital Management Inc. boosted its position in shares of G-III Apparel Group by 513.2% during the fourth 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. Marshall Wace LLP boosted its position in shares of G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock worth $24,989,000 after purchasing an additional 341,870 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of G-III Apparel Group during the fourth quarter worth $7,628,000. Point72 Asset Management L.P. raised its holdings in shares of G-III Apparel Group by 111.7% during the fourth quarter. Point72 Asset Management L.P. now owns 381,126 shares of the textile maker’s stock worth $12,432,000 after acquiring an additional 201,126 shares during the period. Finally, Barclays PLC raised its holdings in shares of G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after acquiring an additional 198,647 shares during the period. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Stock Up 0.9%

Shares of GIII opened at $28.13 on Friday. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The firm has a market cap of $1.23 billion, a P/E ratio of 7.38 and a beta of 1.41. The firm’s 50-day simple moving average is $25.84 and its 200 day simple moving average is $29.03. 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 (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. On average, analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GIII has been the topic of several analyst reports. UBS Group cut their price target on shares of 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 objective on shares of G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th. Telsey Advisory Group reiterated a “market perform” rating and issued a $30.00 price target on shares of G-III Apparel Group in a research note on Friday, April 4th. Finally, StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $32.20.

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.