G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIIIFree Report) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,702,233 shares of the textile maker’s stock after buying an additional 92,673 shares during the quarter. Vanguard Group Inc. owned about 0.10% of G-III Apparel Group worth $117,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GIII. Strs Ohio bought a new stake in G-III Apparel Group during the third quarter worth approximately $34,000. Castleview Partners LLC bought a new stake in shares of G-III Apparel Group in the 3rd quarter worth $41,000. Quarry LP lifted its holdings in shares of G-III Apparel Group by 647.6% in the second quarter. Quarry LP now owns 1,712 shares of the textile maker’s stock valued at $33,000 after buying an additional 1,483 shares during the period. Lazard Asset Management LLC acquired a new position in G-III Apparel Group during the second quarter worth about $34,000. Finally, Point72 Middle East FZE bought a new stake in G-III Apparel Group in the second quarter worth about $40,000. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Stock Performance

Shares of GIII opened at $27.59 on Thursday. The company has a market capitalization of $1.25 billion, a PE ratio of 7.32 and a beta of 2.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36. The company’s 50 day moving average price is $30.17 and its 200 day moving average price is $29.05. G-III Apparel Group, Ltd. has a 52 week low of $14.49 and a 52 week high of $35.68.

G-III Apparel Group (NASDAQ:GIIIGet Free Report) last posted its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The business had revenue of $764.80 million for the quarter, compared to analysts’ expectations of $816.98 million. During the same period in the previous year, the company posted $0.41 EPS. G-III Apparel Group’s revenue was down 10.5% on a year-over-year basis. Research analysts expect that G-III Apparel Group, Ltd. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GIII. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reduced their price target on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 15th. UBS Group lowered their price objective on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, KeyCorp increased their target price on G-III Apparel Group from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.83.

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About G-III Apparel Group

(Free Report)

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.

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

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