Exchange Traded Concepts LLC Has $1.27 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Exchange Traded Concepts LLC raised its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 234.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,610 shares of the textile maker’s stock after acquiring an additional 29,181 shares during the quarter. Exchange Traded Concepts LLC owned about 0.09% of G-III Apparel Group worth $1,270,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GIII. Vanguard Group Inc. raised its holdings in G-III Apparel Group by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 4,754,135 shares of the textile maker’s stock valued at $161,546,000 after buying an additional 51,902 shares in the last quarter. Guidance Capital Inc. bought a new position in shares of G-III Apparel Group in the 1st quarter valued at approximately $403,000. Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group in the 1st quarter worth approximately $171,000. Principal Financial Group Inc. boosted its position in G-III Apparel Group by 1.4% during the first quarter. Principal Financial Group Inc. now owns 234,814 shares of the textile maker’s stock worth $6,812,000 after purchasing an additional 3,222 shares during the period. Finally, Mutual Advisors LLC grew its holdings in G-III Apparel Group by 1.0% during the first quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after purchasing an additional 498 shares during the last quarter. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Trading Up 2.9 %

Shares of GIII opened at $32.23 on Thursday. The stock’s 50-day moving average price is $28.70 and its 200 day moving average price is $27.91. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 8.44 and a beta of 2.19. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. G-III Apparel Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on GIII. Barclays upped their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp upped their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Guggenheim started coverage on G-III Apparel Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $36.00 target price for the company. Finally, Telsey Advisory Group reaffirmed 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.00.

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.40% of the stock is owned by insiders.

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.