Verity Asset Management Inc. lowered its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 16.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,753 shares of the textile maker’s stock after selling 1,570 shares during the quarter. Verity Asset Management Inc.’s holdings in G-III Apparel Group were worth $290,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC grew its position in G-III Apparel Group by 852.3% in the third quarter. Ingalls & Snyder LLC now owns 178,083 shares of the textile maker’s stock worth $5,168,000 after acquiring an additional 159,383 shares in the last quarter. Cortina Asset Management LLC purchased a new position in G-III Apparel Group in the third quarter worth $4,709,000. Scout Investments Inc. grew its position in G-III Apparel Group by 42.5% in the third quarter. Scout Investments Inc. now owns 70,350 shares of the textile maker’s stock worth $2,042,000 after acquiring an additional 20,975 shares in the last quarter. California Public Employees Retirement System grew its position in G-III Apparel Group by 11.9% in the third quarter. California Public Employees Retirement System now owns 97,244 shares of the textile maker’s stock worth $2,822,000 after acquiring an additional 10,344 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in G-III Apparel Group in the second quarter worth $851,000.
Shares of G-III Apparel Group, Ltd. (GIII) opened at $35.24 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.91 and a current ratio of 3.52. G-III Apparel Group, Ltd. has a 1 year low of $18.00 and a 1 year high of $40.96. The stock has a market cap of $1,697.71, a PE ratio of 41.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.24.
G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.13. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business posted $1.50 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. equities research analysts anticipate that G-III Apparel Group, Ltd. will post 1.51 EPS for the current year.
Several brokerages recently issued reports on GIII. Piper Jaffray Companies reiterated a “buy” rating on shares of G-III Apparel Group in a research report on Wednesday, January 10th. KeyCorp restated a “buy” rating and set a $45.00 price target on shares of G-III Apparel Group in a research report on Thursday, January 11th. BidaskClub lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Barclays upped their price target on shares of G-III Apparel Group from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, January 25th. Finally, B. Riley restated a “neutral” rating and set a $36.00 price target on shares of G-III Apparel Group in a research report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.45.
In other news, Vice Chairman Sammy Aaron sold 51,000 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $33.62, for a total transaction of $1,714,620.00. Following the completion of the sale, the insider now directly owns 556,152 shares in the company, valued at $18,697,830.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bokhorst Willem Van sold 7,518 shares of the stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $37.51, for a total transaction of $282,000.18. Following the sale, the director now owns 48,667 shares of the company’s stock, valued at $1,825,499.17. The disclosure for this sale can be found here. Corporate insiders own 9.70% of the company’s stock.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
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