Cwm LLC Raises Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Cwm LLC increased its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 46.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,777 shares of the textile maker’s stock after buying an additional 885 shares during the period. Cwm LLC’s holdings in G-III Apparel Group were worth $85,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group in the second quarter worth $42,000. Point72 DIFC Ltd purchased a new stake in G-III Apparel Group during the second quarter valued at about $78,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group during the second quarter valued at about $124,000. Allspring Global Investments Holdings LLC purchased a new stake in G-III Apparel Group during the first quarter valued at about $171,000. Finally, ProShare Advisors LLC raised its position in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GIII shares. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Guggenheim started coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target on the stock. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company 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 two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and an average target price of $30.00.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 12.40% of the stock is currently owned by company insiders.

G-III Apparel Group Stock Down 0.3 %

NASDAQ GIII opened at $30.60 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The stock has a market capitalization of $1.34 billion, a PE ratio of 7.65 and a beta of 2.19. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $35.68. The business’s 50-day moving average is $29.64 and its 200 day moving average is $28.08.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping 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 firm had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

About G-III Apparel Group

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.