Raymond James Financial Inc. Buys New Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Inc. bought a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 166,392 shares of the textile maker's stock, valued at approximately $5,428,000. Raymond James Financial Inc. owned about 0.38% of G-III Apparel Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its holdings in shares of G-III Apparel Group by 4.3% in the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock worth $500,000 after acquiring an additional 631 shares during the last quarter. Vestcor Inc grew its stake in shares of G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock valued at $1,043,000 after buying an additional 665 shares during the last quarter. Atria Investments Inc raised its holdings in shares of G-III Apparel Group by 9.1% in the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock worth $264,000 after buying an additional 673 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in G-III Apparel Group in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Down 3.2 %

G-III Apparel Group stock traded down $0.83 during midday trading on Monday, hitting $25.04. 403,073 shares of the company's stock were exchanged, compared to its average volume of 555,229. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The company has a market cap of $1.10 billion, a PE ratio of 6.57 and a beta of 1.63. The firm has a 50-day moving average of $25.99 and a two-hundred day moving average of $29.53.

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, beating analysts' consensus estimates of $0.97 by $0.30. The firm 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 quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. As a group, analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com lowered shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. UBS Group lowered their price objective on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays reduced their target price on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a research report on Monday. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $30.00 price target on shares of G-III Apparel Group in a report on Friday, April 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 stock. According to MarketBeat, G-III Apparel Group has an average rating of "Hold" and a consensus target price of $32.20.

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.