Guidance Capital Inc. Buys New Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Guidance Capital Inc. purchased a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,873 shares of the textile maker’s stock, valued at approximately $403,000.

A number of other hedge funds also recently bought and sold shares of GIII. Pacer Advisors Inc. increased its holdings in shares of G-III Apparel Group by 155.7% in the 4th quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock worth $123,019,000 after buying an additional 2,204,572 shares during the last quarter. Norges Bank purchased a new stake in G-III Apparel Group during the fourth quarter valued at approximately $9,440,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of G-III Apparel Group by 39.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock valued at $16,585,000 after purchasing an additional 189,239 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of G-III Apparel Group by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,777,980 shares of the textile maker’s stock valued at $94,396,000 after acquiring an additional 145,232 shares in the last quarter. Finally, Invesco Ltd. grew its stake in G-III Apparel Group by 23.5% in the third quarter. Invesco Ltd. now owns 643,282 shares of the textile maker’s stock worth $16,031,000 after purchasing an additional 122,484 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on GIII. Barclays reiterated an “underweight” rating and issued a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. TheStreet upgraded shares of G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Wells Fargo & Company dropped their price objective on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Monday, June 3rd. Finally, StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.60.

G-III Apparel Group Stock Up 1.0 %

Shares of GIII stock traded up $0.26 during trading hours on Friday, reaching $27.07. 1,197,066 shares of the company’s stock were exchanged, compared to its average volume of 905,468. G-III Apparel Group, Ltd. has a fifty-two week low of $18.47 and a fifty-two week high of $35.68. The stock’s 50 day moving average is $28.14 and its 200-day moving average is $29.78. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 7.09 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.17. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. The company had revenue of $609.75 million for the quarter, compared to analyst estimates of $615.10 million. Analysts predict that G-III Apparel Group, Ltd. will post 3.63 earnings per share for the current fiscal 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 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.