Dynamic Technology Lab Private Ltd Takes $282,000 Position 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) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,244 shares of the textile maker’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guidance Capital Inc. lifted its stake in G-III Apparel Group by 2.0% in the 3rd quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker’s stock worth $563,000 after purchasing an additional 331 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of G-III Apparel Group by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares during the last quarter. CWM LLC lifted its position in G-III Apparel Group by 46.8% during the third quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock worth $85,000 after buying an additional 885 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in G-III Apparel Group by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,911 shares of the textile maker’s stock worth $897,000 after buying an additional 1,485 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group in the 2nd quarter valued at $42,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.40% of the company’s stock.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $29.63 on Monday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 7.41 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The company has a 50 day moving average price of $30.54 and a 200 day moving average price of $28.48.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current 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.