Hsbc Holdings PLC Purchases 12,006 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Hsbc Holdings PLC raised its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 26.1% in the second quarter, Holdings Channel.com reports. The firm owned 57,936 shares of the textile maker’s stock after acquiring an additional 12,006 shares during the period. Hsbc Holdings PLC’s holdings in G-III Apparel Group were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in G-III Apparel Group in the 4th quarter valued at $56,000. CWM LLC boosted its holdings in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares during the period. Innealta Capital LLC bought a new stake in G-III Apparel Group in the 2nd quarter valued at $124,000. Allspring Global Investments Holdings LLC bought a new position in shares of G-III Apparel Group during the 1st quarter worth about $171,000. Finally, ProShare Advisors LLC lifted its holdings in shares of G-III Apparel Group by 7.4% during the 1st 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 period. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Trading Down 0.7 %

Shares of G-III Apparel Group stock opened at $30.05 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $27.59 and a 200 day simple moving average of $27.72. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68.

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

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of analyst reports. Barclays raised their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday, September 22nd. KeyCorp raised their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $28.80.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the sale, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.40% of the company’s stock.

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.