Inspire Investing LLC Lowers Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Inspire Investing LLC reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,614 shares of the textile maker’s stock after selling 4,865 shares during the period. Inspire Investing LLC owned 0.07% of G-III Apparel Group worth $966,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GIII. Marshall Wace LLP boosted its position in shares of G-III Apparel Group by 142.8% in the second quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after purchasing an additional 206,993 shares during the period. Barclays PLC lifted its stake in shares of G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after buying an additional 198,647 shares in the last quarter. Jane Street Group LLC boosted its holdings in G-III Apparel Group by 269.9% in the 3rd quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock worth $7,665,000 after buying an additional 183,246 shares during the period. Dimensional Fund Advisors LP increased its stake in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock worth $91,396,000 after buying an additional 151,425 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in G-III Apparel Group during the third quarter valued at about $3,671,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Price Performance

GIII stock opened at $31.46 on Friday. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. The firm has a market capitalization of $1.38 billion, a P/E ratio of 8.26 and a beta of 2.09. The company has a fifty day simple moving average of $31.91 and a two-hundred day simple moving average of $29.75. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $2.78 EPS. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on GIII. KeyCorp increased their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays increased their price objective on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 target price on shares of G-III Apparel Group in a report on Wednesday, December 18th. Guggenheim raised their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, G-III Apparel Group has a consensus rating of “Hold” and a consensus price target of $33.17.

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.