Lisanti Capital Growth LLC lessened its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 27.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,355 shares of the textile maker’s stock after selling 9,595 shares during the period. Lisanti Capital Growth LLC’s holdings in G-III Apparel Group were worth $1,222,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Moody National Bank Trust Division bought a new stake in shares of G-III Apparel Group in the 3rd quarter worth $188,000. Acadian Asset Management LLC bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth $193,000. Everence Capital Management Inc. bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth $227,000. Xact Kapitalforvaltning AB bought a new stake in shares of G-III Apparel Group in the 1st quarter worth $246,000. Finally, Brown Advisory Inc. bought a new stake in shares of G-III Apparel Group in the 1st quarter worth $264,000.
A number of analysts have commented on GIII shares. ValuEngine lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Piper Jaffray Companies set a $54.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a report on Tuesday, September 18th. Buckingham Research reduced their target price on G-III Apparel Group from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. Needham & Company LLC set a $56.00 target price on G-III Apparel Group and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, BidaskClub raised G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $50.64.
In other news, COO Wayne S. Miller sold 19,448 shares of the firm’s stock in a transaction on Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the transaction, the chief operating officer now directly owns 248,621 shares in the company, valued at approximately $9,967,215.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.80% of the company’s stock.
GIII stock opened at $40.99 on Friday. The firm has a market capitalization of $2.04 billion, a PE ratio of 25.62, a PEG ratio of 1.06 and a beta of 0.35. G-III Apparel Group, Ltd. has a 1 year low of $24.38 and a 1 year high of $51.20. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The firm had revenue of $624.70 million for the quarter, compared to the consensus estimate of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the business posted ($0.15) EPS. On average, equities research analysts expect that G-III Apparel Group, Ltd. will post 2.61 earnings per share for the current fiscal year.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures, 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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