Invesco Ltd. reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 899,955 shares of the textile maker's stock after selling 37,508 shares during the quarter. Invesco Ltd. owned about 2.05% of G-III Apparel Group worth $29,357,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of G-III Apparel Group by 18.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,354 shares of the textile maker's stock valued at $436,000 after acquiring an additional 2,079 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in G-III Apparel Group by 17.7% in the 4th quarter. Wells Fargo & Company MN now owns 29,147 shares of the textile maker's stock valued at $951,000 after purchasing an additional 4,391 shares in the last quarter. Islay Capital Management LLC purchased a new stake in G-III Apparel Group in the 4th quarter valued at approximately $878,000. Integrated Quantitative Investments LLC acquired a new position in G-III Apparel Group during the 4th quarter worth approximately $1,173,000. Finally, Foundry Partners LLC purchased a new position in shares of G-III Apparel Group during the 4th quarter worth approximately $6,094,000. 92.13% of the stock is owned by institutional investors and hedge funds.
G-III Apparel Group Price Performance
Shares of NASDAQ:GIII traded up $0.41 during midday trading on Wednesday, hitting $25.12. 83,175 shares of the stock were exchanged, compared to its average volume of 553,746. The stock has a market cap of $1.10 billion, a P/E ratio of 6.59 and a beta of 1.63. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The company has a 50 day moving average price of $26.25 and a 200-day moving average price of $29.63. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.
G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The company 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 quarter in the prior year, the firm earned $0.76 earnings per share. On average, research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts recently weighed in on the company. UBS Group decreased their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Barclays lowered 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 research note on Tuesday, March 18th. Telsey Advisory Group reiterated a "market perform" rating and issued a $30.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 4th. Finally, StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.00.
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About G-III Apparel Group
(
Free Report)
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.
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