G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 14.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,266,663 shares of the textile maker’s stock after selling 897,801 shares during the period. Pacer Advisors Inc. owned 11.71% of G-III Apparel Group worth $142,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at $56,000. CWM LLC increased its stake in G-III Apparel Group by 115.0% in the second 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 last quarter. Innealta Capital LLC purchased a new position in G-III Apparel Group during the second quarter worth about $124,000. Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group in the 1st quarter worth about $171,000. Finally, ProShare Advisors LLC boosted its stake in G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after buying an additional 572 shares during the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $31.71 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.43 billion, a PE ratio of 8.30 and a beta of 2.19. The company’s fifty day simple moving average is $27.03 and its 200-day simple moving average is $27.66. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same period last year, the company posted $0.40 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on GIII. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp boosted their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Barclays increased their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two research 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’s stock. Based on data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $28.80.

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.