SummerHaven Investment Management LLC Buys 461 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

SummerHaven Investment Management LLC boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 29,853 shares of the textile maker’s stock after purchasing an additional 461 shares during the quarter. SummerHaven Investment Management LLC’s holdings in G-III Apparel Group were worth $816,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in shares of G-III Apparel Group by 46.6% during the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock valued at $1,438,000 after acquiring an additional 14,016 shares during the period. Victory Capital Management Inc. lifted its position in 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 valued at $18,430,000 after purchasing an additional 472,862 shares during the period. Phocas Financial Corp. boosted its stake in shares of G-III Apparel Group by 84.4% in the 4th quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock valued at $7,634,000 after purchasing an additional 107,082 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $375,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of G-III Apparel Group during the 4th quarter worth approximately $2,308,000. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GIII. Telsey Advisory Group cut their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Monday. UBS Group lowered their price target on G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday. KeyCorp decreased their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Monday. Wall Street Zen upgraded shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 31st. Finally, Barclays dropped their price target on G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.80.

G-III Apparel Group Trading Down 1.3%

Shares of NASDAQ:GIII opened at $21.77 on Thursday. The firm has a market cap of $955.33 million, a price-to-earnings ratio of 5.71 and a beta of 1.48. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The company’s fifty day simple moving average is $25.88 and its 200 day simple moving average is $28.61. 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 released its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $583.61 million during the quarter, compared to analysts’ expectations of $579.48 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. As a group, research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

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.