Phocas Financial Corp. Cuts Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Phocas Financial Corp. trimmed its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 72.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,505 shares of the textile maker’s stock after selling 91,433 shares during the period. Phocas Financial Corp. owned approximately 0.08% of G-III Apparel Group worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GIII. Sanctuary Advisors LLC raised its stake in G-III Apparel Group by 4.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock worth $500,000 after acquiring an additional 631 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in G-III Apparel Group by 93.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of G-III Apparel Group by 0.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 329,720 shares of the textile maker’s stock worth $10,063,000 after buying an additional 1,860 shares during the last quarter. Quarry LP purchased a new stake in G-III Apparel Group in the 3rd quarter worth approximately $63,000. Finally, Point72 DIFC Ltd grew its position in G-III Apparel Group by 103.2% during the third quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after buying an additional 2,957 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $27.04 on Wednesday. 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 market cap of $1.19 billion, a price-to-earnings ratio of 7.10 and a beta of 2.07. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $31.20 and a two-hundred day simple moving average of $30.46.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.78 earnings per share. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on GIII shares. KeyCorp boosted their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. Barclays boosted their price target on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Wednesday, December 11th. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Guggenheim increased their price target on shares of 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.17.

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.