G-III Apparel Group, Ltd. (NASDAQ:GIII) has seen an increase in enthusiasm from smart money recently.
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Now, it’s important to take a glance at the key action regarding G-III Apparel Group, Ltd. (NASDAQ:GIII).
How are hedge funds trading G-III Apparel Group, Ltd. (NASDAQ:GIII)?
In preparation for this year, a total of 14 of the hedge funds we track were bullish in this stock, a change of 27% from the previous quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their holdings considerably.
Of the funds we track, Scopia Capital, managed by Matt Sirovich and Jeremy Mindich, holds the biggest position in G-III Apparel Group, Ltd. (NASDAQ:GIII). Scopia Capital has a $67 million position in the stock, comprising 2.7% of its 13F portfolio. The second largest stake is held by Chuck Royce of Royce & Associates, with a $63 million position; 0% of its 13F portfolio is allocated to the stock. Remaining hedge funds with similar optimism include David Keidan’s Buckingham Capital Management, Donald Chiboucis’s Columbus Circle Investors and Joel Greenblatt’s Gotham Asset Management.
Consequently, key hedge funds were leading the bulls’ herd. AQR Capital Management, managed by Cliff Asness, assembled the largest position in G-III Apparel Group, Ltd. (NASDAQ:GIII). AQR Capital Management had 2 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $1 million position during the quarter. The other funds with brand new GIII positions are Steven Cohen’s SAC Capital Advisors, Paul Tudor Jones’s Tudor Investment Corp, and Bruce Kovner’s Caxton Associates LP.
What do corporate executives and insiders think about G-III Apparel Group, Ltd. (NASDAQ:GIII)?
Bullish insider trading is particularly usable when the company in focus has seen transactions within the past 180 days. Over the latest six-month time frame, G-III Apparel Group, Ltd. (NASDAQ:GIII) has experienced 1 unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to G-III Apparel Group, Ltd. (NASDAQ:GIII). These stocks are Oxford Industries, Inc. (NYSE:OXM), True Religion Apparel, Inc. (NASDAQ:TRLG), Quiksilver, Inc. (NYSE:ZQK), Maidenform Brands, Inc. (NYSE:MFB), and UniFirst Corp (NYSE:UNF). This group of stocks belong to the textile – apparel clothing industry and their market caps are similar to GIII’s market cap.
|Company Name||# of Hedge Funds||# of Insiders Buying||# of Insiders Selling|
|Oxford Industries, Inc. (NYSE:OXM)||5||2||3|
|True Religion Apparel, Inc. (NASDAQ:TRLG)||13||0||0|
|Quiksilver, Inc. (NYSE:ZQK)||8||0||2|
|Maidenform Brands, Inc. (NYSE:MFB)||8||0||4|
|UniFirst Corp (NYSE:UNF)||9||0||4|
With the results exhibited by our time-tested strategies, everyday investors must always keep an eye on hedge fund and insider trading activity, and G-III Apparel Group, Ltd. (NASDAQ:GIII) applies perfectly to this mantra.
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