Pacer Advisors Inc. Lowers Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Pacer Advisors Inc. reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 42.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,808,702 shares of the textile maker’s stock after selling 2,079,639 shares during the period. Pacer Advisors Inc. owned 0.06% of G-III Apparel Group worth $91,620,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in G-III Apparel Group during the second quarter worth about $42,000. Quarry LP purchased a new stake in shares of G-III Apparel Group during the 3rd quarter worth about $63,000. Point72 DIFC Ltd acquired a new stake in G-III Apparel Group during the 2nd quarter worth approximately $78,000. CWM LLC raised its holdings in G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 885 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in G-III Apparel Group during the third quarter valued at approximately $152,000. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Trading Up 1.4 %

NASDAQ:GIII opened at $31.89 on Monday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 8.37 and a beta of 2.09. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The business’s 50-day simple moving average is $31.94 and its 200 day simple moving average is $29.84.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $2.78 EPS. G-III Apparel Group’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GIII shares. Barclays increased their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Guggenheim increased their price target on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. KeyCorp boosted their price objective on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and set a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.17.

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.