LPL Financial LLC Increases Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

LPL Financial LLC grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 25.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,321 shares of the textile maker's stock after acquiring an additional 13,550 shares during the period. LPL Financial LLC owned about 0.15% of G-III Apparel Group worth $2,067,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. AlphaQuest LLC purchased a new stake in G-III Apparel Group during the 4th quarter worth about $49,000. Smartleaf Asset Management LLC increased its stake in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after buying an additional 1,412 shares during the period. Wealthfront Advisers LLC acquired a new stake in G-III Apparel Group in the fourth quarter valued at approximately $215,000. Cornerstone Investment Partners LLC acquired a new stake in G-III Apparel Group in the fourth quarter valued at approximately $224,000. Finally, Virtu Financial LLC acquired a new position in G-III Apparel Group during the 3rd quarter worth approximately $211,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Ratings Changes

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

G-III Apparel Group Stock Performance

Shares of GIII stock traded up $0.68 during trading hours on Friday, reaching $24.22. 439,071 shares of the company's stock were exchanged, compared to its average volume of 553,611. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The company's 50 day moving average is $26.46 and its two-hundred day moving average is $29.69. The company has a market cap of $1.06 billion, a P/E ratio of 6.36 and a beta of 1.63. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $839.50 million during the quarter, compared to analysts' expectations of $808.59 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. G-III Apparel Group's revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate 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.