BlackRock Inc. Has $197.43 Million Stake in G-III Apparel Group (GIII)

BlackRock Inc. reduced its stake in G-III Apparel Group (NASDAQ:GIII) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,351,724 shares of the textile maker’s stock after selling 42,968 shares during the period. BlackRock Inc. owned 10.90% of G-III Apparel Group worth $197,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GIII. Zions Bancorporation acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth approximately $151,000. Invictus RG acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth approximately $185,000. CIBC Asset Management Inc acquired a new stake in shares of G-III Apparel Group in the 4th quarter worth approximately $210,000. Turner Investments LLC acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth approximately $218,000. Finally, FNY Managed Accounts LLC acquired a new stake in shares of G-III Apparel Group in the 3rd quarter worth approximately $221,000. 98.30% of the stock is owned by institutional investors.

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A number of analysts have recently weighed in on the stock. BidaskClub raised shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Buckingham Research cut their target price on shares of G-III Apparel Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, March 23rd. ValuEngine raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 29th. B. Riley set a $38.00 target price on shares of G-III Apparel Group and gave the company a “hold” rating in a research note on Friday, March 23rd. Finally, Telsey Advisory Group cut their price target on shares of G-III Apparel Group from $53.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, March 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $36.82.

G-III Apparel Group stock traded down $0.20 during trading hours on Friday, hitting $39.12. The company had a trading volume of 599,301 shares, compared to its average volume of 805,177. The firm has a market cap of $1,922.59, a PE ratio of 24.45, a P/E/G ratio of 1.28 and a beta of 0.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.91 and a current ratio of 2.76. G-III Apparel Group has a fifty-two week low of $18.00 and a fifty-two week high of $40.96.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 22nd. The textile maker reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.10. The firm had revenue of $714.90 million for the quarter, compared to analyst estimates of $707.64 million. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.44%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) EPS. equities analysts anticipate that G-III Apparel Group will post 2.04 EPS for the current fiscal year.

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G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets men's and women's apparel. It operates in two segments, Wholesale Operations and Retail Operations. The company's 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.

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

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