G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Update

G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Free Report) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 4,860,000 shares, a decrease of 6.7% from the February 29th total of 5,210,000 shares. Based on an average trading volume of 648,900 shares, the short-interest ratio is presently 7.5 days. Approximately 12.1% of the company’s shares are short sold.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $27.73 on Wednesday. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. G-III Apparel Group has a twelve month low of $14.49 and a twelve month high of $35.68. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 7.36 and a beta of 2.41. The company’s fifty day moving average is $30.22 and its 200 day moving average is $29.06.

G-III Apparel Group (NASDAQ:GIIIGet Free Report) last posted its earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The company had revenue of $764.80 million for the quarter, compared to analyst estimates of $816.98 million. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that G-III Apparel Group will post 3.55 EPS for the current year.

Institutional Trading of G-III Apparel Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in G-III Apparel Group by 3.0% in the 1st quarter. BlackRock Inc. now owns 7,583,681 shares of the textile maker’s stock worth $205,139,000 after acquiring an additional 218,715 shares during the last quarter. Vanguard Group Inc. lifted its position in G-III Apparel Group by 7.3% during the first quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock valued at $131,858,000 after purchasing an additional 332,865 shares during the period. Pacer Advisors Inc. increased its holdings in G-III Apparel Group by 155.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock valued at $123,019,000 after buying an additional 2,204,572 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in G-III Apparel Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,299,935 shares of the textile maker’s stock valued at $89,266,000 after buying an additional 37,415 shares during the last quarter. Finally, Madison Avenue Partners LP purchased a new stake in shares of G-III Apparel Group in the fourth quarter worth $25,716,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on GIII shares. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a report on Friday, March 22nd. KeyCorp boosted their target price on G-III Apparel Group from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Barclays reissued an “underweight” rating and set a $23.00 price objective (down previously from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. UBS Group lowered their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, Wells Fargo & Company decreased their price target on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average price target of $25.83.

Read Our Latest Stock Report on GIII

About G-III Apparel Group

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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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