Wedge Capital Management L L P NC Takes $1.18 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Wedge Capital Management L L P NC bought a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,517 shares of the textile maker's stock, valued at approximately $1,176,000. Wedge Capital Management L L P NC owned 0.09% of G-III Apparel Group as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GIII. Vanguard Group Inc. grew its position in G-III Apparel Group by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker's stock worth $146,408,000 after purchasing an additional 292,668 shares during the last quarter. Dimensional Fund Advisors LP raised its position in G-III Apparel Group by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker's stock worth $91,396,000 after purchasing an additional 151,425 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of G-III Apparel Group by 15.6% during the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker's stock valued at $31,054,000 after acquiring an additional 155,079 shares during the period. LSV Asset Management boosted its stake in shares of G-III Apparel Group by 0.6% in the 2nd quarter. LSV Asset Management now owns 851,683 shares of the textile maker's stock valued at $23,055,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker's stock worth $9,526,000 after acquiring an additional 206,993 shares during the period. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on GIII shares. Telsey Advisory Group reaffirmed a "market perform" rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp boosted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Guggenheim assumed coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They issued a "buy" rating and a $36.00 target price for the company. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, Barclays increased their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.00.

G-III Apparel Group Trading Up 1.6 %

NASDAQ:GIII traded up $0.53 on Thursday, reaching $32.76. 387,951 shares of the stock traded hands, compared to its average volume of 594,312. The company's 50 day moving average is $28.70 and its 200-day moving average is $27.91. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.58 and a beta of 2.19.

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

Insiders Place Their Bets

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 stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now owns 3,923,071 shares of the company's stock, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.40% of the company's stock.

G-III Apparel Group 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.