Raymond James Financial Inc. Invests $5.43 Million in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Inc. bought a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP bought a new position in G-III Apparel Group in the 3rd quarter valued at $63,000. Smartleaf Asset Management LLC grew its holdings in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after purchasing an additional 1,412 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in G-III Apparel Group by 93.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock worth $92,000 after buying an additional 1,460 shares during the period. Point72 Hong Kong Ltd bought a new stake in G-III Apparel Group during the 3rd quarter valued at about $152,000. Finally, Point72 DIFC Ltd lifted its holdings in G-III Apparel Group by 103.2% during the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker's stock valued at $178,000 after buying an additional 2,957 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Down 0.4 %

GIII stock traded down $0.12 during trading on Friday, hitting $27.22. 586,605 shares of the company's stock traded hands, compared to its average volume of 538,186. The firm has a market capitalization of $1.19 billion, a P/E ratio of 7.14 and a beta of 2.09. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $28.61 and a two-hundred day simple moving average of $30.43.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its 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 business had revenue of $839.50 million for the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. Sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp raised their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Barclays dropped their price objective on 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. Guggenheim lifted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Telsey Advisory Group cut their price target on G-III Apparel Group from $38.00 to $30.00 and set a "market perform" rating on the stock in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, G-III Apparel Group currently 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.