Oppenheimer Asset Management Inc. Acquires 734 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Oppenheimer Asset Management Inc. boosted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Rating) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,122 shares of the textile maker’s stock after acquiring an additional 734 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in G-III Apparel Group were worth $225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. bought a new position in shares of G-III Apparel Group in the second quarter worth approximately $35,000. Captrust Financial Advisors increased its holdings in shares of G-III Apparel Group by 48.4% in the 1st quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock worth $180,000 after buying an additional 2,175 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of G-III Apparel Group by 28.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,800 shares of the textile maker’s stock valued at $198,000 after buying an additional 2,200 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of G-III Apparel Group during the 1st quarter worth $203,000. Finally, Hightower 6M Holding LLC purchased a new position in G-III Apparel Group in the first quarter worth $208,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Wall Street Analyst Weigh In

GIII has been the subject of several research analyst reports. Barclays dropped their price target on G-III Apparel Group from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Friday, September 9th. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $25.00 to $22.00 and set a “market perform” rating on the stock in a research note on Thursday, September 8th. CL King cut their price objective on shares of G-III Apparel Group from $45.00 to $26.00 in a research note on Thursday, September 8th. Piper Sandler reiterated an “overweight” rating and issued a $28.00 target price on shares of G-III Apparel Group in a research report on Friday, July 22nd. Finally, StockNews.com began coverage on shares of G-III Apparel Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.00.

G-III Apparel Group Price Performance

GIII stock opened at $20.61 on Friday. The company has a current ratio of 2.29, a quick ratio of 0.94 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $17.39 and its two-hundred day moving average price is $20.88. The stock has a market capitalization of $978.71 million, a price-to-earnings ratio of 4.58, a PEG ratio of 0.39 and a beta of 2.52. G-III Apparel Group, Ltd. has a 12-month low of $14.37 and a 12-month high of $33.40.

G-III Apparel Group (NASDAQ:GIIIGet Rating) last announced its quarterly earnings results on Wednesday, September 7th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.08). G-III Apparel Group had a net margin of 7.26% and a return on equity of 13.61%. The business had revenue of $605.20 million for the quarter, compared to analysts’ expectations of $592.53 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, equities analysts predict that G-III Apparel Group, Ltd. will post 3.66 earnings per share for the current year.

G-III Apparel Group Profile

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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

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

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