G-III Apparel Group, Ltd. (GIII) Holdings Raised by BlackRock Inc.

BlackRock Inc. grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,012,393 shares of the textile maker’s stock after acquiring an additional 230,026 shares during the quarter. BlackRock Inc. owned 12.23% of G-III Apparel Group worth $289,737,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers grew its holdings in shares of G-III Apparel Group by 1.6% during the second quarter. Rhumbline Advisers now owns 104,704 shares of the textile maker’s stock worth $4,649,000 after buying an additional 1,677 shares in the last quarter. Group One Trading L.P. grew its holdings in shares of G-III Apparel Group by 118.7% during the third quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock worth $150,000 after buying an additional 1,684 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of G-III Apparel Group by 1.6% during the third quarter. Wells Fargo & Company MN now owns 111,432 shares of the textile maker’s stock worth $5,371,000 after buying an additional 1,782 shares in the last quarter. Argent Capital Management LLC grew its holdings in shares of G-III Apparel Group by 2.0% during the second quarter. Argent Capital Management LLC now owns 97,485 shares of the textile maker’s stock worth $4,328,000 after buying an additional 1,900 shares in the last quarter. Finally, Scout Investments Inc. grew its holdings in shares of G-III Apparel Group by 2.4% during the third quarter. Scout Investments Inc. now owns 85,437 shares of the textile maker’s stock worth $4,117,000 after buying an additional 1,982 shares in the last quarter.

In other news, COO Wayne S. Miller sold 19,448 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the sale, the chief operating officer now directly owns 248,621 shares of the company’s stock, valued at $9,967,215.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.80% of the company’s stock.

GIII has been the subject of a number of research reports. ValuEngine downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $47.00 price objective (down from $54.00) on shares of G-III Apparel Group in a report on Friday, December 7th. Buckingham Research decreased their price objective on G-III Apparel Group from $57.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, October 17th. BidaskClub downgraded G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 8th. Finally, Needham & Company LLC set a $50.00 price target on G-III Apparel Group and gave the company a “buy” rating in a research note on Friday, December 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. G-III Apparel Group presently has a consensus rating of “Buy” and a consensus target price of $47.45.

GIII stock opened at $28.63 on Tuesday. G-III Apparel Group, Ltd. has a twelve month low of $28.11 and a twelve month high of $51.20. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 0.70 and a beta of 0.33. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.07. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the firm posted $1.67 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, research analysts predict that G-III Apparel Group, Ltd. will post 2.75 earnings per share for the current fiscal year.

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About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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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