Verity Asset Management Inc. reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 43.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,947 shares of the textile maker’s stock after selling 5,417 shares during the period. Verity Asset Management Inc.’s holdings in G-III Apparel Group were worth $308,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund raised its stake in G-III Apparel Group by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,248 shares of the textile maker’s stock valued at $649,000 after acquiring an additional 293 shares during the period. Nvwm LLC raised its stake in G-III Apparel Group by 9.9% in the 1st quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock valued at $171,000 after acquiring an additional 384 shares during the period. Zions Bancorporation N.A. raised its stake in G-III Apparel Group by 5.5% in the 2nd quarter. Zions Bancorporation N.A. now owns 7,931 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 415 shares during the period. Mason Street Advisors LLC raised its stake in G-III Apparel Group by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 13,473 shares of the textile maker’s stock valued at $538,000 after acquiring an additional 445 shares during the period. Finally, Rhumbline Advisers raised its stake in G-III Apparel Group by 0.5% in the 1st quarter. Rhumbline Advisers now owns 126,726 shares of the textile maker’s stock valued at $5,064,000 after acquiring an additional 594 shares during the period.
Several brokerages have recently weighed in on GIII. BidaskClub cut G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Friday, August 16th. Bank of America decreased their price target on G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, June 6th. ValuEngine cut G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Zacks Investment Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Needham & Company LLC set a $47.00 price target on G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. G-III Apparel Group has an average rating of “Hold” and a consensus target price of $39.40.
Shares of NASDAQ GIII traded down $1.46 during midday trading on Friday, hitting $19.87. 415,582 shares of the company’s stock were exchanged, compared to its average volume of 719,462. G-III Apparel Group, Ltd. has a 12-month low of $19.79 and a 12-month high of $50.83. The company has a current ratio of 2.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 0.61 and a beta of 1.39. The business’s fifty day moving average price is $25.78 and its two-hundred day moving average price is $32.45.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $633.60 million during the quarter, compared to analyst estimates of $650.03 million. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. G-III Apparel Group’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Equities analysts expect that G-III Apparel Group, Ltd. will post 3.26 earnings per share for the current fiscal year.
In other news, CEO Morris Goldfarb bought 37,106 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $25.39 per share, with a total value of $942,121.34. Following the completion of the purchase, the chief executive officer now directly owns 3,210,483 shares in the company, valued at $81,514,163.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by corporate insiders.
G-III Apparel Group 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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