Wealthfront Advisers LLC Purchases New Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Wealthfront Advisers LLC purchased a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,600 shares of the textile maker’s stock, valued at approximately $215,000.

A number of other hedge funds have also modified their holdings of GIII. Sanctuary Advisors LLC increased its stake in G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock worth $500,000 after purchasing an additional 631 shares in the last quarter. Atria Investments Inc increased its stake in G-III Apparel Group by 9.1% during the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after purchasing an additional 673 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after purchasing an additional 1,412 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in G-III Apparel Group during the 4th quarter worth approximately $49,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on GIII. Guggenheim increased their target price on G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday. Barclays raised their price target on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. KeyCorp raised their price target on shares of 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. Finally, UBS Group decreased their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and a consensus price target of $33.80.

G-III Apparel Group Trading Up 1.5 %

NASDAQ GIII opened at $27.06 on Tuesday. The company has a market cap of $1.19 billion, a PE ratio of 7.10 and a beta of 2.09. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The stock has a 50 day moving average of $29.34 and a 200-day moving average of $30.52.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating the consensus estimate of $0.97 by $0.30. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. On average, equities research analysts anticipate 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.