Rhumbline Advisers Sells 4,135 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Rhumbline Advisers lowered its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,684 shares of the textile maker’s stock after selling 4,135 shares during the quarter. Rhumbline Advisers owned 0.28% of G-III Apparel Group worth $3,301,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its holdings in G-III Apparel Group by 11.8% during the 4th quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker’s stock worth $47,672,000 after acquiring an additional 153,913 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of G-III Apparel Group by 2.6% during the fourth quarter. Prudential Financial Inc. now owns 772,447 shares of the textile maker’s stock valued at $25,197,000 after purchasing an additional 19,723 shares in the last quarter. Marshall Wace LLP lifted its position in shares of G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker’s stock valued at $24,989,000 after purchasing an additional 341,870 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after purchasing an additional 472,862 shares during the last quarter. Finally, Northern Trust Corp grew its position in G-III Apparel Group by 21.8% in the 4th quarter. Northern Trust Corp now owns 520,931 shares of the textile maker’s stock worth $16,993,000 after purchasing an additional 93,263 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday. KeyCorp lowered their price objective on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, June 9th. UBS Group reduced their target price on shares of G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Monday, June 9th. Telsey Advisory Group decreased their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research note on Monday, June 9th. Finally, Barclays lowered their target price on G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.80.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $20.54 on Friday. The stock’s 50-day simple moving average is $25.78 and its two-hundred day simple moving average is $28.46. G-III Apparel Group, Ltd. has a twelve month low of $20.37 and a twelve month high of $36.18. The firm has a market capitalization of $901.36 million, a P/E ratio of 5.39 and a beta of 1.48. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. The company had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. G-III Apparel Group’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

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 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.