雅虎香港財經 Is G-III Apparel Group, Ltd. (GIII) a Cheap Stock?
Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 0.70% compared to a -0.66% return for the Russell 2000 Value Index. The firm expects the fund to outperform in down markets and trail in speculative markets. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
FPA Queens Road Small Cap Value Fund highlighted stocks like G-III Apparel Group, Ltd. (NASDAQ:GIII) in the first quarter 2023 investor letter. Headquartered in New York, New York, G-III Apparel Group, Ltd. (NASDAQ:GIII) is a clothing company that designs, sources, and markets apparel. On May 4, 2023, G-III Apparel Group, Ltd. (NASDAQ:GIII) stock closed at $14.75 per share. One-month return of G-III Apparel Group, Ltd. (NASDAQ:GIII) was -1.47%, and its shares lost 42.81% of their value over the last 52 weeks. G-III Apparel Group, Ltd. (NASDAQ:GIII) has a market capitalization of $695.796 million.
FPA Queens Road Small Cap Value Fund made the following comment about G-III Apparel Group, Ltd. (NASDAQ:GIII) in its Q1 2023 investor letter:
"G-III Apparel Group, Ltd. (NASDAQ:GIII) is an apparel manufacturer that licenses the Tommy Hilfiger and Calvin Klein women’s and other categories in the U.S. and owns the Donna Karan, Karl Lagerfeld and a stable of smaller brands globally. Shares collapsed after a third quarter 2022 earnings report when the company announced that Tommy and Calvin’s owner, PVH (which the Fund also owns), was in-sourcing the licensing arrangement.20 We had considered this possibility and owned G-III in smaller size. G-III remains cheap relative to its peers but with lingering questions about the license transition, bloated inventory and the quality of the fully owned brands."
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G-III Apparel Group, Ltd. (NASDAQ:GIII) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held G-III Apparel Group, Ltd. (NASDAQ:GIII) at the end of the fourth quarter which was 18 in the previous quarter.
We discussed G-III Apparel Group, Ltd. (NASDAQ:GIII) in another article and shared the list of luxury clothing stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
