Walleye Capital LLC Makes New $790,000 Investment in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Walleye Capital LLC acquired a new position in G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor acquired 29,210 shares of the textile maker’s stock, valued at approximately $790,000.

A number of other hedge funds have also recently added to or reduced their stakes in GIII. Maryland State Retirement & Pension System boosted its holdings in shares of G-III Apparel Group by 2.2% during the first quarter. Maryland State Retirement & Pension System now owns 17,680 shares of the textile maker’s stock valued at $478,000 after acquiring an additional 381 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of G-III Apparel Group by 1.1% during the first quarter. Great West Life Assurance Co. Can now owns 39,973 shares of the textile maker’s stock valued at $1,112,000 after acquiring an additional 428 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of G-III Apparel Group by 7.0% during the first quarter. Teacher Retirement System of Texas now owns 9,048 shares of the textile maker’s stock valued at $245,000 after acquiring an additional 588 shares during the period. Meritage Portfolio Management boosted its holdings in shares of G-III Apparel Group by 8.9% during the first quarter. Meritage Portfolio Management now owns 8,434 shares of the textile maker’s stock valued at $228,000 after acquiring an additional 690 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of G-III Apparel Group by 1.2% during the fourth quarter. Public Sector Pension Investment Board now owns 89,025 shares of the textile maker’s stock valued at $2,461,000 after acquiring an additional 1,040 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock opened at $17.06 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $21.22 and its two-hundred day moving average price is $23.83. G-III Apparel Group, Ltd. has a 52 week low of $15.24 and a 52 week high of $33.40. The stock has a market cap of $810.13 million, a PE ratio of 3.79 and a beta of 2.42.

G-III Apparel Group (NASDAQ:GIIIGet Rating) last issued its quarterly earnings results on Wednesday, September 7th. The textile maker reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). G-III Apparel Group had a return on equity of 13.61% and a net margin of 7.26%. The business had revenue of $605.20 million during the quarter, compared to the consensus estimate of $592.53 million. During the same quarter last year, the firm posted $0.39 earnings per share. G-III Apparel Group’s revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 3.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of G-III Apparel Group from $31.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, July 15th. B. Riley reduced their price objective on shares of G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Telsey Advisory Group reduced their price objective on shares of G-III Apparel Group from $25.00 to $22.00 and set a “market perform” rating for the company in a report on Thursday, September 8th. KeyCorp initiated coverage on shares of G-III Apparel Group in a report on Wednesday, July 20th. They issued an “overweight” rating and a $27.00 price objective for the company. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of G-III Apparel Group in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

G-III Apparel Group Company Profile

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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.

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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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