G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIIIGet Rating) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,569 shares of the textile maker’s stock after acquiring an additional 7,798 shares during the quarter. Royce & Associates LP’s holdings in G-III Apparel Group were worth $1,557,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Maryland State Retirement & Pension System boosted its position in G-III Apparel Group by 2.2% during the first quarter. Maryland State Retirement & Pension System now owns 17,680 shares of the textile maker’s stock worth $478,000 after acquiring an additional 381 shares during the last quarter. Meritage Portfolio Management raised its stake in G-III Apparel Group by 8.9% during the first quarter. Meritage Portfolio Management now owns 8,434 shares of the textile maker’s stock worth $228,000 after purchasing an additional 690 shares during the period. InterOcean Capital Group LLC raised its stake in G-III Apparel Group by 12.1% during the fourth quarter. InterOcean Capital Group LLC now owns 9,259 shares of the textile maker’s stock worth $256,000 after purchasing an additional 1,000 shares during the period. Public Sector Pension Investment Board raised its stake in G-III Apparel Group by 1.2% during the fourth quarter. Public Sector Pension Investment Board now owns 89,025 shares of the textile maker’s stock worth $2,461,000 after purchasing an additional 1,040 shares during the period. Finally, Victory Capital Management Inc. raised its stake in G-III Apparel Group by 3.8% during the fourth quarter. Victory Capital Management Inc. now owns 29,871 shares of the textile maker’s stock worth $826,000 after purchasing an additional 1,080 shares during the period. Institutional investors and hedge funds own 92.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GIII. UBS Group cut their price target on shares of G-III Apparel Group from $31.00 to $22.00 and set a “neutral” rating on the stock in a research note on Friday, July 15th. Barclays reaffirmed an “equal weight” rating and set a $22.00 price target on shares of G-III Apparel Group in a research note on Wednesday, June 15th. KeyCorp assumed coverage on shares of G-III Apparel Group in a research note on Wednesday, July 20th. They set an “overweight” rating and a $27.00 price target on the stock. B. Riley cut their target price on shares of G-III Apparel Group from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of G-III Apparel Group in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.57.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $22.61 on Friday. The company’s fifty day simple moving average is $22.25 and its 200-day simple moving average is $25.25. G-III Apparel Group, Ltd. has a 52 week low of $19.38 and a 52 week high of $35.12. The company has a current ratio of 3.58, a quick ratio of 2.36 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.09 billion, a PE ratio of 5.45 and a beta of 2.44.

G-III Apparel Group (NASDAQ:GIIIGet Rating) last released its quarterly earnings results on Tuesday, June 7th. The textile maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.15. The business had revenue of $688.80 million during the quarter, compared to analyst estimates of $597.35 million. G-III Apparel Group had a net margin of 6.98% and a return on equity of 14.09%. The business’s revenue was up 32.5% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. As a group, equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.38 EPS for the current year.

About G-III Apparel Group

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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.

Further Reading

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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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