Empowered Funds LLC Boosts Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Empowered Funds LLC lifted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 54.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,123 shares of the textile maker’s stock after purchasing an additional 115,491 shares during the period. Empowered Funds LLC owned about 0.75% of G-III Apparel Group worth $10,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group in the second quarter valued at about $42,000. CWM LLC raised its stake in G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in G-III Apparel Group during the 2nd quarter worth approximately $78,000. Innealta Capital LLC acquired a new stake in G-III Apparel Group during the 2nd quarter worth approximately $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of G-III Apparel Group in the 1st quarter valued at approximately $171,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 100,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. This represents a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.40% of the company’s stock.

G-III Apparel Group Trading Down 1.5 %

NASDAQ GIII opened at $30.33 on Friday. The company has a market cap of $1.33 billion, a P/E ratio of 7.58 and a beta of 2.19. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The company has a 50-day moving average of $30.85 and a 200-day moving average of $28.38.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $649.54 million. During the same quarter last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. As a group, equities analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GIII shares. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a report on Friday, September 6th. 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. KeyCorp increased their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Guggenheim started 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 target price on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently 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.