G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its position in G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) by 22.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 36,471 shares of the textile maker’s stock after acquiring an additional 6,600 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of G-III Apparel Group worth $966,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its stake in shares of G-III Apparel Group by 2.2% in the first quarter. Maryland State Retirement & Pension System now owns 17,680 shares of the textile maker’s stock valued at $478,000 after purchasing an additional 381 shares during the period. Meritage Portfolio Management lifted its stake in shares of G-III Apparel Group by 8.9% in the first quarter. Meritage Portfolio Management now owns 8,434 shares of the textile maker’s stock valued at $228,000 after purchasing an additional 690 shares during the period. InterOcean Capital Group LLC lifted its stake in shares of G-III Apparel Group by 12.1% in the fourth quarter. InterOcean Capital Group LLC now owns 9,259 shares of the textile maker’s stock valued at $256,000 after purchasing an additional 1,000 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of G-III Apparel Group by 1.2% in the fourth quarter. Public Sector Pension Investment Board now owns 89,025 shares of the textile maker’s stock valued at $2,461,000 after purchasing an additional 1,040 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of G-III Apparel Group by 14.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,202 shares of the textile maker’s stock valued at $282,000 after purchasing an additional 1,250 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently commented on the stock. KeyCorp started coverage on shares of G-III Apparel Group in a research note on Wednesday, July 20th. They issued an “overweight” rating and a $27.00 price objective for the company. B. Riley cut their target price on shares of G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, June 8th. TheStreet cut shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Tuesday, July 5th. Wells Fargo & Company started coverage on shares of G-III Apparel Group in a research report on Monday, July 11th. They set an “equal weight” rating and a $20.00 target price for the company. Finally, UBS Group cut their target price on shares of G-III Apparel Group from $31.00 to $22.00 and set a “neutral” rating for the company in a research report on Friday, July 15th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.57.
G-III Apparel Group Stock Performance
Shares of NASDAQ GIII opened at $24.92 on Wednesday. The company has a market cap of $1.20 billion, a PE ratio of 6.00 and a beta of 2.44. G-III Apparel Group, Ltd. has a 12 month low of $19.38 and a 12 month high of $35.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.58 and a quick ratio of 2.36. The company has a 50-day simple moving average of $21.90 and a 200-day simple moving average of $25.13.
G-III Apparel Group (NASDAQ:GIII – Get Rating) last issued its quarterly earnings results on Tuesday, June 7th. The textile maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.15. G-III Apparel Group had a net margin of 6.98% and a return on equity of 14.09%. The business had revenue of $688.80 million during the quarter, compared to the consensus estimate of $597.35 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.38 earnings per share for the current year.
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 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.
Further Reading
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