US Bancorp DE trimmed its position in G-III Apparel Group, Ltd. (NASDAQ:GIII – Free Report) by 54.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,068 shares of the textile maker’s stock after selling 16,993 shares during the quarter. US Bancorp DE’s holdings in G-III Apparel Group were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of G-III Apparel Group in the first quarter worth $325,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of G-III Apparel Group by 78.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,313 shares of the textile maker’s stock worth $114,000 after buying an additional 3,221 shares during the last quarter. Ziegler Capital Management LLC lifted its stake in shares of G-III Apparel Group by 63.2% in the first quarter. Ziegler Capital Management LLC now owns 439,956 shares of the textile maker’s stock worth $6,842,000 after buying an additional 170,451 shares during the last quarter. Jump Financial LLC bought a new position in G-III Apparel Group during the first quarter worth $537,000. Finally, LSV Asset Management increased its position in G-III Apparel Group by 6.9% during the first quarter. LSV Asset Management now owns 824,115 shares of the textile maker’s stock worth $12,815,000 after acquiring an additional 53,150 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of G-III Apparel Group from $15.00 to $20.00 in a research report on Wednesday, June 7th. UBS Group boosted their target price on shares of G-III Apparel Group from $16.00 to $21.00 in a research report on Wednesday, June 7th. StockNews.com assumed coverage on shares of G-III Apparel Group in a research report on Thursday, August 17th. They set a “hold” rating on the stock. KeyCorp boosted their target price on shares of G-III Apparel Group from $18.00 to $23.00 in a research report on Wednesday, June 7th. Finally, Piper Sandler boosted their price target on shares of G-III Apparel Group from $16.00 to $17.00 in a report on Wednesday, June 7th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average target price of $19.14.
View Our Latest Report on G-III Apparel Group
G-III Apparel Group Trading Up 1.7 %
Shares of G-III Apparel Group stock opened at $19.17 on Wednesday. The firm has a market capitalization of $873.96 million, a PE ratio of -5.52 and a beta of 2.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.94 and a quick ratio of 1.70. The company’s fifty day moving average price is $20.17 and its two-hundred day moving average price is $17.74. G-III Apparel Group, Ltd. has a 52-week low of $11.60 and a 52-week high of $22.55.
G-III Apparel Group (NASDAQ:GIII – Get Free Report) last issued its earnings results on Tuesday, June 6th. The textile maker reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.10) by $0.23. G-III Apparel Group had a negative net margin of 5.10% and a positive return on equity of 7.40%. The company had revenue of $606.60 million for the quarter, compared to the consensus estimate of $558.33 million. During the same quarter in the previous year, the company earned $0.72 EPS. The firm’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts expect that G-III Apparel Group, Ltd. will post 2.86 EPS for the current year.
Insider Activity
In other news, Director Laura H. Pomerantz sold 9,304 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $19.40, for a total value of $180,497.60. Following the sale, the director now owns 41,974 shares in the company, valued at approximately $814,295.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Vice Chairman Sammy Aaron sold 208,943 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $19.75, for a total transaction of $4,126,624.25. Following the transaction, the insider now owns 200,143 shares in the company, valued at approximately $3,952,824.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Laura H. Pomerantz sold 9,304 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $19.40, for a total transaction of $180,497.60. Following the transaction, the director now owns 41,974 shares in the company, valued at approximately $814,295.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,151 shares of company stock worth $4,529,782. Corporate insiders own 13.20% of the company’s stock.
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.
Further Reading
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