Royce & Associates LP Lowers Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)
Royce & Associates LP reduced its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 16.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 757,077 shares of the textile maker’s stock after selling 149,598 shares during the quarter. Royce & Associates LP owned 1.59% of G-III Apparel Group worth $25,362,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. FTB Advisors Inc. lifted its stake in G-III Apparel Group by 43.2% in the 3rd quarter. FTB Advisors Inc. now owns 1,320 shares of the textile maker’s stock valued at $34,000 after buying an additional 398 shares in the last quarter. Advisory Services Network LLC purchased a new position in G-III Apparel Group in the 4th quarter valued at about $44,000. Quadrant Capital Group LLC purchased a new position in G-III Apparel Group in the 3rd quarter valued at about $37,000. Tower Research Capital LLC TRC purchased a new position in G-III Apparel Group in the 3rd quarter valued at about $48,000. Finally, Yorktown Management & Research Co Inc purchased a new position in G-III Apparel Group in the 4th quarter valued at about $231,000. 98.40% of the stock is currently owned by institutional investors and hedge funds.
GIII has been the topic of a number of research reports. Telsey Advisory Group raised their price target on shares of G-III Apparel Group from $23.00 to $28.00 and gave the company a “market perform” rating in a research note on Thursday, December 5th. KeyCorp decreased their price target on shares of G-III Apparel Group from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, December 5th. Barclays initiated coverage on shares of G-III Apparel Group in a research note on Tuesday, November 12th. They issued an “equal weight” rating and a $27.00 price target on the stock. BidaskClub raised shares of G-III Apparel Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, B. Riley initiated coverage on shares of G-III Apparel Group in a research note on Wednesday, December 4th. They issued a “buy” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.00.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, December 4th. The textile maker reported $1.99 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.05. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. G-III Apparel Group had a net margin of 4.50% and a return on equity of 12.27%. G-III Apparel Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. On average, analysts forecast that G-III Apparel Group, Ltd. will post 3.13 earnings per share for the current fiscal year.
In other news, Director Bokhorst Willem Van sold 4,753 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $32.81, for a total transaction of $155,945.93. Following the completion of the sale, the director now owns 56,636 shares in the company, valued at approximately $1,858,227.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by company insiders.
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 in 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.
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