Point72 Asia Singapore Pte. Ltd. Makes New Investment in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,566 shares of the textile maker’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC lifted its position in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares during the period. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group in the second quarter valued at about $78,000. Inçalta Capital LLC purchased a new position in G-III Apparel Group in the second quarter valued at $124,000. Allspring Global Investments Holdings LLC purchased a new position in G-III Apparel Group in the first quarter valued at $171,000. Finally, ProShare Advisors LLC raised its stake in shares of G-III Apparel Group by 7.4% in the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after acquiring an additional 572 shares during the last quarter. Institutional investors own 92.13% of the company’s shares.

Indoor activity

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The sale was disclosed in a filing with the SEC, which can be accessed via this link. Insiders own 12.40% of the company’s shares.

Analyst upgrades and downgrades

Several research firms recently issued reports on GIII. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 22nd. Barclays upped their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. KeyCorp upped 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 report on Friday, September 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. G-III Apparel Group has a consensus rating of “Hold” and an average price target of $28.80, according to MarketBeat.com.

Check out our latest report on G-III Apparel Group

G-III apparel group trading up 1.6%

Shares of GIII stock opened at $30.52 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 1.80, and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The stock has a market cap of $1.37 billion, a P/E ratio of 7.99 and a beta of 2.19. The company’s 50-day moving average is $27.67 and its 200-day moving average is $27.71.

G-III Apparel Group (NASDAQ:GIII – Get Your Free Report ) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. In the same quarter last year, the company posted earnings of $0.40 per share. Group G-III Apparel’s revenue was down 2.3% compared to the same quarter last year. research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

G-III clothing group profile

(Free Report)

G-III Apparel Group, Ltd. designs, supplies 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 handbags, shoes, small leather goods, cold weather accessories and women’s luggage.

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