F M Investments LLC Trims Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

F M Investments LLC lessened its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 68.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,314 shares of the textile maker's stock after selling 171,272 shares during the quarter. F M Investments LLC owned approximately 0.18% of G-III Apparel Group worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Raymond James Financial Inc. bought a new position in shares of G-III Apparel Group in the 4th quarter worth $5,428,000. Envestnet Asset Management Inc. increased its position in G-III Apparel Group by 18.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,354 shares of the textile maker's stock worth $436,000 after buying an additional 2,079 shares during the period. Wells Fargo & Company MN lifted its position in shares of G-III Apparel Group by 17.7% during the 4th quarter. Wells Fargo & Company MN now owns 29,147 shares of the textile maker's stock valued at $951,000 after acquiring an additional 4,391 shares during the period. Islay Capital Management LLC acquired a new position in G-III Apparel Group during the fourth quarter valued at approximately $878,000. Finally, Integrated Quantitative Investments LLC acquired a new position in G-III Apparel Group during the fourth quarter worth about $1,173,000. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Price Performance

Shares of G-III Apparel Group stock traded down $0.28 on Wednesday, hitting $23.94. 120,440 shares of the company traded hands, compared to its average volume of 550,791. The stock has a market capitalization of $1.05 billion, a P/E ratio of 6.28 and a beta of 1.63. The business has a 50-day simple moving average of $26.80 and a 200 day simple moving average of $29.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group, Ltd. has a 52 week low of $20.00 and a 52 week high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. Research analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GIII shares. Barclays cut their price target on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating on the stock in a report on Tuesday, March 18th. UBS Group reduced their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. StockNews.com cut G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of "Hold" and a consensus target price of $33.00.

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.