Phocas Financial Corp. Has $3.87 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Phocas Financial Corp. lessened its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 126,938 shares of the textile maker’s stock after selling 7,786 shares during the quarter. Phocas Financial Corp.’s holdings in G-III Apparel Group were worth $3,874,000 as of its most recent SEC filing.

Other institutional investors and 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 2nd quarter worth about $42,000. CWM LLC boosted its holdings in shares of G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares during the period. Point72 DIFC Ltd purchased a new position in G-III Apparel Group during the second quarter valued at approximately $78,000. Innealta Capital LLC acquired a new position in G-III Apparel Group in the 2nd quarter valued at approximately $124,000. Finally, Pallas Capital Advisors LLC purchased a new stake in G-III Apparel Group in the 3rd quarter worth approximately $229,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

NASDAQ:GIII opened at $29.72 on Tuesday. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $35.68. The stock has a market cap of $1.30 billion, a P/E ratio of 7.43 and a beta of 2.19. The company has a fifty day moving average price of $30.83 and a 200 day moving average price of $28.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue was down 2.3% on a year-over-year basis. Analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Transactions at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GIII shares. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp lifted their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. Finally, Guggenheim started coverage on shares of G-III Apparel Group in a report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

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.