Envestnet Asset Management Inc. Increases Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Envestnet Asset Management Inc. boosted its stake in G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Rating) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,158 shares of the textile maker’s stock after purchasing an additional 4,101 shares during the quarter. Envestnet Asset Management Inc.’s holdings in G-III Apparel Group were worth $1,844,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth about $35,000. Captrust Financial Advisors increased its holdings in shares of G-III Apparel Group by 48.4% in the 1st quarter. Captrust Financial Advisors now owns 6,665 shares of the textile maker’s stock worth $180,000 after buying an additional 2,175 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of G-III Apparel Group in the 1st quarter worth about $203,000. Hightower 6M Holding LLC bought a new stake in shares of G-III Apparel Group in the 1st quarter worth about $208,000. Finally, FORA Capital LLC bought a new stake in shares of G-III Apparel Group in the 1st quarter worth about $216,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GIII. Telsey Advisory Group reduced their target price on shares of G-III Apparel Group from $25.00 to $22.00 and set a “market perform” rating on the stock in a report on Thursday, September 8th. CL King lowered their price target on shares of G-III Apparel Group from $45.00 to $26.00 in a research report on Thursday, September 8th. StockNews.com began coverage on shares of G-III Apparel Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Barclays cut their price target on shares of G-III Apparel Group from $22.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, September 9th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.00.

G-III Apparel Group Trading Up 2.4 %

Shares of GIII stock opened at $21.11 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 2.29. The stock has a market capitalization of $1.00 billion, a P/E ratio of 4.69, a price-to-earnings-growth ratio of 0.38 and a beta of 2.52. The company has a 50 day moving average price of $17.44 and a 200 day moving average price of $20.79. G-III Apparel Group, Ltd. has a fifty-two week low of $14.37 and a fifty-two week high of $32.97.

G-III Apparel Group (NASDAQ:GIIIGet Rating) last issued its quarterly earnings data on Wednesday, September 7th. The textile maker reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.08). The company had revenue of $605.20 million for the quarter, compared to analysts’ expectations of $592.53 million. G-III Apparel Group had a return on equity of 13.61% and a net margin of 7.26%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities research analysts predict that G-III Apparel Group, Ltd. will post 3.66 EPS for the current fiscal year.

G-III Apparel Group Company Profile

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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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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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