Balyasny Asset Management L.P. Takes $7.63 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Balyasny Asset Management L.P. bought a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 233,846 shares of the textile maker’s stock, valued at approximately $7,628,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in shares of G-III Apparel Group by 236.4% during the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after purchasing an additional 198,647 shares during the period. Franklin Resources Inc. lifted its holdings in G-III Apparel Group by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 55,131 shares of the textile maker’s stock worth $1,682,000 after buying an additional 3,806 shares during the period. JPMorgan Chase & Co. grew its position in shares of G-III Apparel Group by 80.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 133,518 shares of the textile maker’s stock valued at $4,075,000 after buying an additional 59,718 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of G-III Apparel Group by 124.1% in the fourth quarter. SG Americas Securities LLC now owns 16,482 shares of the textile maker’s stock valued at $538,000 after buying an additional 9,128 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of G-III Apparel Group during the fourth quarter worth about $513,000. 92.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of recent analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. UBS Group lowered their target price on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. Finally, Barclays dropped their price objective on G-III Apparel Group from $25.00 to $21.00 and set an “underweight” rating on the stock in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.20.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $26.44 on Friday. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $25.65 and its 200-day moving average price is $29.14. The firm has a market capitalization of $1.16 billion, a P/E ratio of 6.94 and a beta of 1.41. 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 announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

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.