Aperio Group LLC Trims Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Aperio Group LLC trimmed its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,742 shares of the textile maker’s stock after selling 594 shares during the quarter. Aperio Group LLC’s holdings in G-III Apparel Group were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GIII. Dimensional Fund Advisors LP grew its holdings in G-III Apparel Group by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,144,322 shares of the textile maker’s stock valued at $115,585,000 after buying an additional 58,455 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in G-III Apparel Group by 189.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,357 shares of the textile maker’s stock valued at $414,000 after buying an additional 6,776 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in G-III Apparel Group by 0.4% in the 1st quarter. Eagle Asset Management Inc. now owns 223,875 shares of the textile maker’s stock valued at $8,946,000 after buying an additional 867 shares in the last quarter. Rhumbline Advisers grew its holdings in G-III Apparel Group by 0.5% in the 1st quarter. Rhumbline Advisers now owns 126,726 shares of the textile maker’s stock valued at $5,064,000 after buying an additional 594 shares in the last quarter. Finally, Comerica Bank grew its holdings in G-III Apparel Group by 1.9% in the 1st quarter. Comerica Bank now owns 42,871 shares of the textile maker’s stock valued at $1,755,000 after buying an additional 794 shares in the last quarter.

In other news, CEO Morris Goldfarb acquired 40,000 shares of the stock in a transaction dated Thursday, July 11th. The shares were bought at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the purchase, the chief executive officer now directly owns 3,250,483 shares of the company’s stock, valued at $86,040,285.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is owned by insiders.

Shares of NASDAQ:GIII traded up $0.30 on Friday, reaching $27.56. 68,394 shares of the company traded hands, compared to its average volume of 1,036,624. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 1.17. The company’s 50 day moving average is $23.49 and its 200-day moving average is $31.18. G-III Apparel Group, Ltd. has a fifty-two week low of $18.18 and a fifty-two week high of $48.79. The stock has a market capitalization of $1.28 billion, a PE ratio of 9.64, a P/E/G ratio of 0.79 and a beta of 1.47.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company had revenue of $643.90 million during the quarter, compared to analyst estimates of $656.16 million. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.37%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. As a group, analysts expect that G-III Apparel Group, Ltd. will post 3.19 EPS for the current year.

Several equities analysts have recently commented on the company. Bank of America lowered G-III Apparel Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $35.00 to $21.00 in a research note on Wednesday, September 4th. Stifel Nicolaus set a $22.00 price target on G-III Apparel Group and gave the company a “hold” rating in a research note on Friday, September 6th. Needham & Company LLC decreased their price target on G-III Apparel Group from $47.00 to $34.00 and set a “buy” rating on the stock in a research note on Tuesday, September 3rd. Piper Jaffray Companies upped their price target on G-III Apparel Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Telsey Advisory Group lowered G-III Apparel Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $20.00 in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.40.

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 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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