Duality Advisers LP purchased a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 129,449 shares of the textile maker’s stock, valued at approximately $1,720,000. Duality Advisers LP owned about 0.27% of G-III Apparel Group at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in G-III Apparel Group by 47.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,501 shares of the textile maker’s stock valued at $27,000 after buying an additional 1,124 shares in the last quarter. Nvwm LLC acquired a new stake in G-III Apparel Group in the 1st quarter worth approximately $35,000. Acadian Asset Management LLC bought a new stake in G-III Apparel Group during the first quarter worth approximately $43,000. Advisor Group Holdings Inc. bought a new stake in G-III Apparel Group during the first quarter worth approximately $45,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in G-III Apparel Group by 15.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,723 shares of the textile maker’s stock valued at $67,000 after purchasing an additional 1,175 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.
GIII has been the subject of several recent analyst reports. Telsey Advisory Group upped their price objective on shares of G-III Apparel Group from $10.00 to $16.00 and gave the stock a “market perform” rating in a report on Friday, June 5th. ValuEngine upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research lowered G-III Apparel Group from a “hold” rating to a “sell” rating and set a $12.00 price objective on the stock. in a research note on Friday, May 29th. BidaskClub downgraded G-III Apparel Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Finally, Wells Fargo & Co lowered G-III Apparel Group from an “overweight” rating to an “equal weight” rating and set a $17.00 target price on the stock. in a report on Monday, June 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. G-III Apparel Group presently has a consensus rating of “Hold” and a consensus price target of $18.08.
Shares of NASDAQ:GIII opened at $9.89 on Friday. The firm has a market capitalization of $475.24 million, a PE ratio of 5.21, a PEG ratio of 11.87 and a beta of 2.59. The company has a current ratio of 3.97, a quick ratio of 2.74 and a debt-to-equity ratio of 0.91. G-III Apparel Group, Ltd. has a 1-year low of $2.96 and a 1-year high of $34.42. The business’s 50 day moving average is $12.32 and its 200-day moving average is $15.53.
G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, June 4th. The textile maker reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.08). The firm had revenue of $405.13 million during the quarter, compared to the consensus estimate of $407.84 million. G-III Apparel Group had a return on equity of 8.68% and a net margin of 3.15%. The firm’s revenue for the quarter was down 36.1% compared to the same quarter last year. During the same period last year, the business earned $0.25 earnings per share. On average, sell-side analysts predict that G-III Apparel Group, Ltd. will post 0.09 EPS for the current year.
About G-III Apparel Group
G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
Recommended Story: Why investors pay attention to retained earnings
Want to see what other hedge funds are holding GIII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for G-III Apparel Group, Ltd. (NASDAQ:GIII).
Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.