Great Lakes Advisors LLC Sells 8,103 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Great Lakes Advisors LLC trimmed its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 199,776 shares of the textile maker’s stock after selling 8,103 shares during the quarter. Great Lakes Advisors LLC’s holdings in G-III Apparel Group were worth $6,517,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GIII. Victory Capital Management Inc. raised its position in G-III Apparel Group by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 92,136 shares of the textile maker’s stock valued at $2,812,000 after purchasing an additional 4,294 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of G-III Apparel Group by 18.4% during the third quarter. Zions Bancorporation N.A. now owns 47,248 shares of the textile maker’s stock valued at $1,442,000 after acquiring an additional 7,345 shares in the last quarter. Royce & Associates LP lifted its stake in G-III Apparel Group by 10.2% in the third quarter. Royce & Associates LP now owns 38,064 shares of the textile maker’s stock worth $1,162,000 after acquiring an additional 3,537 shares during the period. Empowered Funds LLC boosted its holdings in G-III Apparel Group by 54.3% in the third quarter. Empowered Funds LLC now owns 328,123 shares of the textile maker’s stock valued at $10,014,000 after acquiring an additional 115,491 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in G-III Apparel Group during the 3rd quarter valued at $473,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. UBS Group cut their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. KeyCorp increased their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target on shares of G-III Apparel Group in a research report on Wednesday, December 18th. Finally, StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $33.33.

G-III Apparel Group Price Performance

GIII stock opened at $26.10 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The firm has a 50 day moving average price of $29.68 and a 200-day moving average price of $30.48. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.85 and a beta of 2.09.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $839.50 million during the quarter, compared to analysts’ expectations of $808.59 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

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.