Brandywine Global Investment Management LLC Sells 6,804 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Brandywine Global Investment Management LLC reduced its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 151,377 shares of the textile maker’s stock after selling 6,804 shares during the period. Brandywine Global Investment Management LLC’s holdings in G-III Apparel Group were worth $4,938,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC bought a new stake in shares of G-III Apparel Group in the 4th quarter valued at $49,000. Quarry LP acquired a new position in G-III Apparel Group in the third quarter valued at $63,000. Smartleaf Asset Management LLC boosted its position in G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings 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 acquiring an additional 1,460 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of G-III Apparel Group in the 3rd quarter worth about $152,000. 92.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GIII has been the topic of several research analyst reports. UBS Group cut their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. KeyCorp raised their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Barclays dropped their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 18th. Telsey Advisory Group reduced their price target on shares of G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a report on Friday, March 14th. Finally, Guggenheim upped their price objective on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Price Performance

Shares of GIII opened at $27.48 on Wednesday. The business’s fifty day moving average is $28.39 and its 200 day moving average is $30.36. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. 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 stock has a market cap of $1.21 billion, a P/E ratio of 7.21 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. Sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 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.