Proficio Capital Partners LLC Acquires New Shares in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Proficio Capital Partners LLC acquired a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,482 shares of the textile maker’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vestcor Inc grew its stake in G-III Apparel Group by 197.7% in the third quarter. Vestcor Inc now owns 31,323 shares of the textile maker’s stock valued at $956,000 after purchasing an additional 20,800 shares during the last quarter. New York State Common Retirement Fund grew its stake in G-III Apparel Group by 46.6% in the fourth quarter. New York State Common Retirement Fund now owns 44,071 shares of the textile maker’s stock valued at $1,438,000 after purchasing an additional 14,016 shares during the last quarter. JPMorgan Chase & Co. grew its stake in G-III Apparel Group by 80.9% in the third quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after purchasing an additional 59,718 shares during the last quarter. Geode Capital Management LLC grew its stake in G-III Apparel Group by 1.2% in the third quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock valued at $29,833,000 after purchasing an additional 11,196 shares during the last quarter. Finally, EMC Capital Management grew its stake in G-III Apparel Group by 345.5% in the fourth quarter. EMC Capital Management now owns 11,965 shares of the textile maker’s stock valued at $390,000 after purchasing an additional 9,279 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GIII. Guggenheim lifted their target price on 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. UBS Group cut their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a research note on Wednesday, December 18th. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 11th. Finally, KeyCorp boosted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.33.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $25.93 on Tuesday. The business’s 50 day moving average price is $29.96 and its 200 day moving average price is $30.52. The firm has a market cap of $1.14 billion, a P/E ratio of 6.81 and a beta of 2.09. G-III Apparel Group, Ltd. has a 52 week low of $20.66 and a 52 week high of $36.18. 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 issued its 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. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. G-III Apparel Group’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.78 earnings per share. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

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.