Raymond James Financial Services Advisors Inc. Buys Shares of 9,072 G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Services Advisors Inc. bought a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 9,072 shares of the textile maker’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Profit Investment Management LLC lifted its holdings in shares of G-III Apparel Group by 5.7% during the 4th quarter. Profit Investment Management LLC now owns 228,991 shares of the textile maker’s stock worth $7,781,000 after acquiring an additional 12,318 shares during the period. Clearview Wealth Advisors LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth about $365,000. Range Financial Group LLC lifted its holdings in shares of G-III Apparel Group by 5.5% during the 4th quarter. Range Financial Group LLC now owns 21,301 shares of the textile maker’s stock worth $724,000 after acquiring an additional 1,103 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of G-III Apparel Group by 24.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 65,205 shares of the textile maker’s stock worth $1,625,000 after acquiring an additional 12,950 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of G-III Apparel Group by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock worth $117,180,000 after acquiring an additional 92,673 shares during the period. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Up 0.7 %

Shares of NASDAQ:GIII opened at $27.84 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. G-III Apparel Group, Ltd. has a 52-week low of $14.49 and a 52-week high of $35.68. The company has a 50 day moving average of $29.37 and a two-hundred day moving average of $29.38. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.38 and a beta of 2.41.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.09. G-III Apparel Group had a net margin of 5.69% and a return on equity of 13.07%. The company had revenue of $764.80 million during the quarter, compared to the consensus estimate of $816.98 million. During the same quarter last year, the company earned $0.41 earnings per share. G-III Apparel Group’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts forecast that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GIII shares. Barclays reiterated an “underweight” rating and set a $23.00 price objective (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Wells Fargo & Company dropped their target price on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, March 15th. StockNews.com downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.83.

About G-III Apparel Group

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.