Virtu Financial LLC Invests $211,000 in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Virtu Financial LLC bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,919 shares of the textile maker’s stock, valued at approximately $211,000.

Several other hedge funds also recently bought and sold shares of GIII. Dimensional Fund Advisors LP increased its holdings in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. grew its stake in shares of G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of G-III Apparel Group by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,036,158 shares of the textile maker’s stock valued at $31,624,000 after buying an additional 6,598 shares in the last quarter. Geode Capital Management LLC lifted its stake in G-III Apparel Group by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 977,331 shares of the textile maker’s stock worth $29,833,000 after acquiring an additional 11,196 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in G-III Apparel Group by 0.6% during the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock valued at $23,055,000 after acquiring an additional 5,200 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.40% of the company’s stock.

G-III Apparel Group Stock Down 3.9 %

G-III Apparel Group stock opened at $34.09 on Thursday. The stock has a market cap of $1.50 billion, a PE ratio of 8.95 and a beta of 2.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.80. The stock’s fifty day moving average is $31.39 and its two-hundred day moving average is $28.92. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.33. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $2.78 EPS. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GIII has been the topic of several research reports. Barclays increased their price target on shares of G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday. Guggenheim boosted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Finally, KeyCorp boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” 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 assigned a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $33.17.

G-III Apparel Group 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.