American Century Companies Inc. Increases Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

American Century Companies Inc. raised its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 15.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,147,175 shares of the textile maker’s stock after purchasing an additional 155,079 shares during the period. American Century Companies Inc. owned approximately 2.55% of G-III Apparel Group worth $31,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GIII. Vanguard Group Inc. increased its position in shares of G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after purchasing an additional 292,668 shares during the last quarter. Norges Bank bought a new position in G-III Apparel Group during the fourth quarter valued at approximately $9,440,000. F M Investments LLC purchased a new position in shares of G-III Apparel Group during the second quarter worth approximately $6,796,000. Dimensional Fund Advisors LP lifted its holdings in shares of G-III Apparel Group by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,777,980 shares of the textile maker’s stock worth $94,396,000 after acquiring an additional 145,232 shares during the last quarter. Finally, Quantedge Capital Pte Ltd boosted its stake in shares of G-III Apparel Group by 63.7% in the 4th 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. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. KeyCorp lifted their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, Barclays lifted their price target 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 one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.80.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $31.80 on Thursday. The firm has a market cap of $1.43 billion, a PE ratio of 8.32 and a beta of 2.19. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $26.82 and its two-hundred day simple moving average is $27.60.

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