G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 54.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 328,123 shares of the textile maker's stock after purchasing an additional 115,491 shares during the quarter. Empowered Funds LLC owned about 0.75% of G-III Apparel Group worth $10,014,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of GIII. Allspring Global Investments Holdings LLC purchased a new position in shares of G-III Apparel Group during the first quarter valued at $171,000. Texas Permanent School Fund Corp raised its holdings in shares of G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker's stock valued at $1,033,000 after purchasing an additional 482 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker's stock worth $241,000 after purchasing an additional 572 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of G-III Apparel Group by 64.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,821 shares of the textile maker's stock valued at $575,000 after purchasing an additional 7,800 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in G-III Apparel Group by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker's stock valued at $146,408,000 after buying an additional 292,668 shares during the period. 92.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays increased their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an "underweight" rating in a research report on Friday, September 6th. Guggenheim started coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They set a "buy" rating and a $36.00 price objective on the stock. Telsey Advisory Group reiterated a "market perform" rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp increased their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Finally, StockNews.com downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.00.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the transaction, the chief executive officer now directly owns 3,923,071 shares of the company's stock, valued at approximately $118,869,051.30. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 12.40% of the company's stock.

G-III Apparel Group Stock Down 1.5 %

NASDAQ GIII traded down $0.46 during trading on Friday, hitting $30.33. The company's stock had a trading volume of 251,847 shares, compared to its average volume of 568,633. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The company has a market cap of $1.33 billion, a PE ratio of 7.58 and a beta of 2.19. The business's 50 day simple moving average is $30.85 and its 200-day simple moving average is $28.38.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 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.