Oracle Alpha Inc. Invests $509,000 in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Oracle Alpha Inc. bought a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 14,974 shares of the textile maker’s stock, valued at approximately $509,000. G-III Apparel Group makes up 0.7% of Oracle Alpha Inc.’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Trexquant Investment LP raised its stake in shares of G-III Apparel Group by 569.2% in the third quarter. Trexquant Investment LP now owns 106,039 shares of the textile maker’s stock worth $2,642,000 after buying an additional 90,194 shares during the period. Quantedge Capital Pte Ltd lifted its holdings in G-III Apparel Group by 63.7% during the fourth quarter. Quantedge Capital Pte Ltd now owns 162,900 shares of the textile maker’s stock valued at $5,535,000 after purchasing an additional 63,400 shares in the last quarter. CastleKnight Management LP bought a new position in shares of G-III Apparel Group in the fourth quarter worth approximately $2,015,000. Walleye Capital LLC purchased a new stake in shares of G-III Apparel Group in the third quarter worth $2,280,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of G-III Apparel Group by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after purchasing an additional 60,669 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GIII has been the subject of several recent analyst reports. UBS Group dropped their target price on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Wells Fargo & Company cut their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 15th. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, G-III Apparel Group has a consensus rating of “Hold” and a consensus price target of $27.60.

G-III Apparel Group Stock Up 0.9 %

NASDAQ GIII opened at $26.54 on Friday. G-III Apparel Group, Ltd. has a one year low of $18.47 and a one year high of $35.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.62 and a current ratio of 3.79. The stock has a 50 day moving average price of $28.21 and a 200-day moving average price of $29.99. The company has a market capitalization of $1.19 billion, a P/E ratio of 6.95 and a beta of 2.26.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.17. The business had revenue of $609.75 million for the quarter, compared to the consensus estimate of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. As a group, equities analysts predict that G-III Apparel Group, Ltd. will post 3.63 EPS for the current fiscal year.

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.