Royce & Associates LP Sells 8,591 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Royce & Associates LP lessened its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,473 shares of the textile maker’s stock after selling 8,591 shares during the quarter. Royce & Associates LP owned 0.07% of G-III Apparel Group worth $961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GIII. Victory Capital Management Inc. raised its stake in G-III Apparel Group by 513.2% in the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock valued at $18,430,000 after purchasing an additional 472,862 shares in the last quarter. Barclays PLC raised its stake in G-III Apparel Group by 236.4% in the third quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock valued at $8,627,000 after purchasing an additional 198,647 shares in the last quarter. Jane Street Group LLC raised its stake in G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after purchasing an additional 183,246 shares in the last quarter. Raymond James Financial Inc. acquired a new position in G-III Apparel Group in the fourth quarter valued at about $5,428,000. Finally, Point72 Asset Management L.P. raised its stake in G-III Apparel Group by 102.2% during the third quarter. Point72 Asset Management L.P. now owns 180,000 shares of the textile maker’s stock worth $5,494,000 after acquiring an additional 90,993 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GIII. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Guggenheim boosted their target price 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. Barclays lowered their target price on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday. KeyCorp boosted their target price on G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, UBS Group lowered their target price on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $26.20 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of 6.88 and a beta of 2.09. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $28.89 and its 200-day moving average is $30.46. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $839.50 million for the quarter, compared to analysts’ expectations of $808.59 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

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.