Jane Street Group LLC Acquires 183,246 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Jane Street Group LLC raised its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 269.9% in the third quarter, HoldingsChannel.com reports. The firm owned 251,146 shares of the textile maker’s stock after purchasing an additional 183,246 shares during the quarter. Jane Street Group LLC’s holdings in G-III Apparel Group were worth $7,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GIII. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $42,000. CWM LLC raised its holdings in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares in the last quarter. Quarry LP bought a new stake in shares of G-III Apparel Group during the 3rd quarter valued at $63,000. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group during the 2nd quarter valued at $78,000. Finally, Innealta Capital LLC acquired a new stake in shares of G-III Apparel Group during the 2nd quarter worth $124,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Up 4.2 %

GIII opened at $36.10 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of 9.48 and a beta of 2.14. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $31.09 and its 200-day moving average is $28.82. 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, beating analysts’ consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $2.78 earnings per share. Equities research analysts predict that G-III Apparel Group, Ltd. will post 4.15 earnings per share for the current fiscal year.

Insider Activity at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on GIII. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $32.00 target price on shares of G-III Apparel Group in a research report on Tuesday. Guggenheim upped 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 report on Wednesday. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd. Finally, KeyCorp upped 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.17.

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.