Victory Capital Management Inc. Acquires 13,697 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Victory Capital Management Inc. boosted its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 18.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,842 shares of the textile maker’s stock after buying an additional 13,697 shares during the quarter. Victory Capital Management Inc. owned approximately 0.20% of G-III Apparel Group worth $2,378,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new position in shares of G-III Apparel Group during the 1st quarter valued at approximately $35,000. CWM LLC lifted its stake 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 valued at $51,000 after purchasing an additional 1,012 shares during the last quarter. Quest Partners LLC bought a new position in G-III Apparel Group during the fourth quarter valued at $56,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group in the second quarter worth $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in G-III Apparel Group in the first quarter worth $171,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

GIII has been the subject of several research reports. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Saturday. KeyCorp increased their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, Barclays upped their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $28.80.

G-III Apparel Group Trading Up 1.0 %

Shares of GIII opened at $32.06 on Wednesday. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $35.68. The stock has a market cap of $1.44 billion, a PE ratio of 8.39 and a beta of 2.19. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $26.69 and its 200-day moving average price is $27.61.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter in the prior year, the firm posted $0.40 EPS. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. On average, equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal 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.