Envestnet Asset Management Inc. Grows Position in G-III Apparel Group, LTD. (NASDAQ:GIII)

Envestnet Asset Management Inc. increased its holdings in G-III Apparel Group, LTD. (NASDAQ:GIII) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 14,446 shares of the textile maker’s stock after buying an additional 1,092 shares during the quarter. Envestnet Asset Management Inc.’s holdings in G-III Apparel Group were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GIII. Public Employees Retirement System of Ohio purchased a new stake in shares of G-III Apparel Group during the 4th quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. lifted its position in G-III Apparel Group by 18.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock valued at $117,000 after purchasing an additional 564 shares during the period. iSAM Funds UK Ltd purchased a new stake in G-III Apparel Group in the fourth quarter worth approximately $217,000. Bridgefront Capital LLC purchased a new stake in G-III Apparel Group in the fourth quarter worth approximately $249,000. Finally, Cubist Systematic Strategies LLC grew its position in G-III Apparel Group by 926.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 9,001 shares of the textile maker’s stock worth $294,000 after purchasing an additional 8,124 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GIII shares. Wall Street Zen cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 14th. Telsey Advisory Group lowered their target price on G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Monday, June 9th. Barclays dropped 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 report on Monday, June 9th. UBS Group reduced their price target 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. Finally, 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 note on Monday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.80.

Insider Transactions at G-III Apparel Group

In other G-III Apparel Group news, Director Amigo Victor Herrero purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, June 24th. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director directly owned 54,746 shares in the company, valued at $1,201,674.70. The trade was a 10.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 13.00% of the company’s stock.

G-III Apparel Group Trading Up 0.2%

Shares of NASDAQ:GIII opened at $24.44 on Thursday. The stock has a 50 day moving average of $23.65 and a 200 day moving average of $26.05. The company has a market cap of $1.06 billion, a PE ratio of 5.66 and a beta of 1.49. G-III Apparel Group, LTD. has a 12-month low of $20.33 and a 12-month high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. Equities research analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

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.