Pacer Advisors Inc. Lowers Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Pacer Advisors Inc. reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,888,341 shares of the textile maker’s stock after selling 378,322 shares during the period. Pacer Advisors Inc. owned 11.14% of G-III Apparel Group worth $149,192,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of G-III Apparel Group in the second quarter worth about $42,000. CWM LLC boosted its position in G-III Apparel Group by 115.0% during the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new stake in G-III Apparel Group during the second quarter valued at about $78,000. Innealta Capital LLC bought a new stake in G-III Apparel Group during the second quarter valued at about $124,000. Finally, Pallas Capital Advisors LLC bought a new stake in G-III Apparel Group during the third quarter valued at about $229,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. KeyCorp lifted their price objective 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. Guggenheim assumed coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and an average target price of $30.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $28.56 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The company has a fifty day moving average of $30.76 and a two-hundred day moving average of $28.40. The stock has a market capitalization of $1.25 billion, a PE ratio of 7.14 and a beta of 2.19. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. The company had revenue of $644.80 million during 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%. G-III Apparel Group’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal 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.