G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Acquired by Barclays PLC

Barclays PLC raised its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 236.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 282,661 shares of the textile maker’s stock after acquiring an additional 198,647 shares during the period. Barclays PLC owned 0.64% of G-III Apparel Group worth $8,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC lifted its holdings in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in G-III Apparel Group during the second quarter valued at about $257,000. SummerHaven Investment Management LLC grew its stake in shares of G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after purchasing an additional 516 shares during the last quarter. F M Investments LLC bought a new position in shares of G-III Apparel Group in the second quarter valued at $6,796,000. Finally, Innealta Capital LLC acquired a new stake in G-III Apparel Group during the 2nd quarter worth about $124,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Trading Up 1.5 %

Shares of G-III Apparel Group stock opened at $35.48 on Wednesday. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $36.18. The company’s fifty day simple moving average is $31.31 and its 200-day simple moving average is $28.89. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 9.31 and a beta of 2.14. The company has a current ratio of 2.63, a quick ratio of 1.80 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.33. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. G-III Apparel Group’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.78 EPS. As a group, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.15 EPS for the current year.

Analysts Set New Price Targets

GIII has been the subject of a number of research analyst reports. Guggenheim increased their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $32.00 price target on shares of G-III Apparel Group in a research note on Tuesday, December 10th. Barclays boosted their target price on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. KeyCorp raised their price target 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, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.17.

Insider Transactions at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. This represents a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.40% of the company’s stock.

About G-III Apparel Group

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.