Royal Bank of Canada increased its position in shares of G-III Apparel Group Ltd. (NASDAQ:GIII) by 328.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 806,301 shares of the company’s stock after buying an additional 618,143 shares during the period. Royal Bank of Canada owned about 1.77% of G-III Apparel Group worth $36,864,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of GIII. Personal Capital Advisors Corp bought a new position in G-III Apparel Group during the second quarter worth $10,904,000. Schwab Charles Investment Management Inc. boosted its position in G-III Apparel Group by 10.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 187,730 shares of the company’s stock worth $8,584,000 after buying an additional 18,392 shares during the last quarter. Stifel Financial Corp boosted its position in G-III Apparel Group by 5.4% in the second quarter. Stifel Financial Corp now owns 104,671 shares of the company’s stock worth $4,786,000 after buying an additional 5,357 shares during the last quarter. Amalgamated Bank boosted its position in G-III Apparel Group by 18.4% in the second quarter. Amalgamated Bank now owns 4,968 shares of the company’s stock worth $211,000 after buying an additional 772 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in G-III Apparel Group by 7.0% in the second quarter. Legal & General Group Plc now owns 9,462 shares of the company’s stock worth $427,000 after buying an additional 617 shares during the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

G-III Apparel Group Ltd. (NASDAQ:GIII) traded down 8.79% during trading on Friday, hitting $27.19. The stock had a trading volume of 987,061 shares. The company has a market cap of $1.24 billion, a PE ratio of 13.22 and a beta of 0.55. The company’s 50 day moving average is $28.27 and its 200-day moving average is $37.23. G-III Apparel Group Ltd. has a 12 month low of $25.56 and a 12 month high of $55.89.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, August 30th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.21. G-III Apparel Group had a return on equity of 10.91% and a net margin of 4.13%. The company earned $442.30 million during the quarter, compared to analysts’ expectations of $484.85 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts predict that G-III Apparel Group Ltd. will post $2.11 earnings per share for the current year.

A number of research firms have recently weighed in on GIII. Stifel Nicolaus raised G-III Apparel Group from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research report on Tuesday, November 8th. Zacks Investment Research raised G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 1st. Standpoint Research raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 4th. Credit Agricole SA initiated coverage on G-III Apparel Group in a research report on Wednesday, September 28th. They set an “outperform” rating and a $34.00 price objective on the stock. Finally, Piper Jaffray Cos. reissued a “hold” rating and set a $31.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 22nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $41.80.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. (G-III) designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations, which consists of its licensed products and non-licensed products, and includes sales of products under brands licensed by the Company from third parties, as well as sales of products under its own brands and private label brands, and retail operations, which consists of the Wilsons Leather and G.H.

5 Day Chart for NASDAQ:GIII

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