Dynamic Technology Lab Private Ltd Buys New Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Dynamic Technology Lab Private Ltd purchased a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 3rd quarter, Holdings Channel reports. The firm purchased 9,244 shares of the textile maker’s stock, valued at approximately $282,000.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of G-III Apparel Group by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. raised its stake in G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in G-III Apparel Group by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock worth $31,624,000 after buying an additional 6,598 shares during the last quarter. LSV Asset Management boosted its position in shares of G-III Apparel Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock worth $23,055,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after acquiring an additional 206,993 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is owned by insiders.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $29.63 on Monday. The firm’s fifty day simple moving average is $30.54 and its 200-day simple moving average is $28.48. 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 capitalization of $1.30 billion, a price-to-earnings ratio of 7.41 and a beta of 2.19. 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 earnings results on Thursday, September 5th. The textile maker reported $0.52 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 business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About G-III Apparel Group

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.