Raymond James Financial Inc. Purchases Shares of 166,392 G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Inc. acquired a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 166,392 shares of the textile maker's stock, valued at approximately $5,428,000. Raymond James Financial Inc. owned 0.38% of G-III Apparel Group at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Quarry LP acquired a new position in shares of G-III Apparel Group during the 3rd quarter worth $63,000. Smartleaf Asset Management LLC boosted its holdings in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in G-III Apparel Group by 93.2% during the third 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 purchased a new position in G-III Apparel Group in the third quarter valued at about $152,000. Finally, Point72 DIFC Ltd increased its holdings in G-III Apparel Group by 103.2% in the third 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. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Price Performance

Shares of GIII traded up $0.47 during trading hours on Thursday, reaching $27.73. 62,911 shares of the company traded hands, compared to its average volume of 521,901. The stock has a fifty day simple moving average of $28.68 and a 200 day simple moving average of $30.46. G-III Apparel Group, Ltd. has a fifty-two week low of $20.66 and a fifty-two week high of $36.18. The stock has a market capitalization of $1.22 billion, a PE ratio of 7.28 and a beta of 2.09. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

Remove Ads

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $839.50 million for the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

GIII has been the topic of a number of research reports. StockNews.com upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a report on Wednesday. UBS Group lowered their target price on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Guggenheim lifted their price target on G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. KeyCorp increased their price objective on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Barclays cut their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, G-III Apparel Group currently has a consensus rating of "Hold" and an average target price of $33.00.

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.