Zions Bancorporation N.A. Raises Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Zions Bancorporation N.A. lifted its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIIIFree Report) by 16,495.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 36,676 shares of the textile maker’s stock after acquiring an additional 36,455 shares during the period. Zions Bancorporation N.A.’s holdings in G-III Apparel Group were worth $914,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. grew its stake in shares of G-III Apparel Group by 3.0% during the first quarter. BlackRock Inc. now owns 7,583,681 shares of the textile maker’s stock worth $205,139,000 after acquiring an additional 218,715 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of G-III Apparel Group by 7.3% during the first quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock worth $131,858,000 after purchasing an additional 332,865 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of G-III Apparel Group by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,299,935 shares of the textile maker’s stock worth $89,266,000 after purchasing an additional 37,415 shares during the period. Madison Avenue Partners LP acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth about $25,716,000. Finally, State Street Corp lifted its holdings in shares of G-III Apparel Group by 1.7% during the second quarter. State Street Corp now owns 1,674,108 shares of the textile maker’s stock worth $33,867,000 after purchasing an additional 28,751 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 0.1 %

Shares of NASDAQ:GIII opened at $31.58 on Wednesday. The company has a quick ratio of 1.86, a current ratio of 2.84 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $31.59 and a two-hundred day moving average of $26.16. The stock has a market cap of $1.44 billion, a P/E ratio of -13.27 and a beta of 2.46. G-III Apparel Group, Ltd. has a 52-week low of $13.59 and a 52-week high of $35.68.

G-III Apparel Group (NASDAQ:GIIIGet Free Report) last issued its earnings results on Tuesday, December 5th. The textile maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.70. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. G-III Apparel Group had a positive return on equity of 12.32% and a negative net margin of 3.57%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 EPS. On average, research analysts expect that G-III Apparel Group, Ltd. will post 3.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company downgraded G-III Apparel Group from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $30.00 to $24.00 in a report on Tuesday, January 16th. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. KeyCorp boosted their price target on G-III Apparel Group from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, December 6th. Barclays boosted their price target on G-III Apparel Group from $23.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, December 6th. Finally, Telsey Advisory Group boosted their price target on G-III Apparel Group from $24.00 to $30.00 and gave the company a “market perform” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.00.

Read Our Latest Analysis on G-III Apparel Group

Insider Activity

In other news, CFO Neal Nackman sold 31,762 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $35.29, for a total value of $1,120,880.98. Following the transaction, the chief financial officer now owns 55,977 shares of the company’s stock, valued at approximately $1,975,428.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.70% of the company’s stock.

G-III Apparel Group Company Profile

(Free Report)

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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