Swiss National Bank Has $2.53 Million Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Swiss National Bank lowered its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,600 shares of the textile maker’s stock after selling 1,400 shares during the period. Swiss National Bank’s holdings in G-III Apparel Group were worth $2,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. AlphaQuest LLC acquired a new position in G-III Apparel Group during the 4th quarter worth about $49,000. Smartleaf Asset Management LLC boosted its holdings in G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the last quarter. Quarry LP bought a new stake in G-III Apparel Group in the third quarter valued at approximately $63,000. Point72 Asia Singapore Pte. Ltd. increased its position 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 valued at $92,000 after purchasing an additional 1,460 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in G-III Apparel Group during the 3rd quarter worth approximately $152,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

GIII has been the topic of a number of analyst reports. KeyCorp upped their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim upped their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. UBS Group lowered their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays decreased their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.00.

G-III Apparel Group Price Performance

GIII stock opened at $27.34 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The company’s 50-day moving average is $28.61 and its 200-day moving average is $30.43. The stock has a market capitalization of $1.20 billion, a PE ratio of 7.18 and a beta of 2.09. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

G-III Apparel Group 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.