Raymond James Financial Services Advisors Inc. Takes $308,000 Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Services Advisors Inc. acquired a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, HoldingsChannel reports. The firm acquired 9,072 shares of the textile maker’s stock, valued at approximately $308,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Trexquant Investment LP grew its position in G-III Apparel Group by 569.2% in the third quarter. Trexquant Investment LP now owns 106,039 shares of the textile maker’s stock valued at $2,642,000 after acquiring an additional 90,194 shares during the period. Walleye Capital LLC bought a new stake in G-III Apparel Group in the third quarter valued at $2,280,000. Charles Schwab Investment Management Inc. grew its position in G-III Apparel Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after acquiring an additional 60,669 shares during the period. Acadian Asset Management LLC grew its position in G-III Apparel Group by 277.0% in the third quarter. Acadian Asset Management LLC now owns 77,523 shares of the textile maker’s stock valued at $1,928,000 after acquiring an additional 56,958 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in G-III Apparel Group in the third quarter valued at $1,197,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Trading Up 0.7 %

Shares of GIII opened at $27.84 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. G-III Apparel Group, Ltd. has a 12-month low of $14.49 and a 12-month high of $35.68. The firm has a market capitalization of $1.26 billion, a PE ratio of 7.38 and a beta of 2.41. The stock’s fifty day simple moving average is $29.37 and its 200-day simple moving average is $29.38.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The business had revenue of $764.80 million for the quarter, compared to analyst estimates of $816.98 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their price objective on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Barclays reissued an “underweight” rating and issued a $23.00 price objective (down previously from $30.00) on shares of G-III Apparel Group in a research note on Monday, March 4th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.83.

G-III Apparel Group Company 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 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.