Prudential Financial Inc. lifted its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 169.0% in the second quarter, HoldingsChannel.com reports. The firm owned 188,808 shares of the textile maker’s stock after acquiring an additional 118,610 shares during the period. Prudential Financial Inc.’s holdings in G-III Apparel Group were worth $5,555,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GIII. FTB Advisors Inc. bought a new stake in G-III Apparel Group in the second quarter valued at $27,000. Price Wealth Management Inc. bought a new stake in G-III Apparel Group in the second quarter valued at $113,000. Nvwm LLC grew its position in G-III Apparel Group by 9.9% in the first quarter. Nvwm LLC now owns 4,276 shares of the textile maker’s stock valued at $171,000 after acquiring an additional 384 shares during the period. Yorktown Management & Research Co Inc bought a new stake in G-III Apparel Group in the second quarter valued at $203,000. Finally, Everence Capital Management Inc. bought a new stake in G-III Apparel Group in the first quarter valued at $204,000.
Shares of GIII stock traded up $0.27 during trading hours on Friday, hitting $27.53. 9,175 shares of the company’s stock were exchanged, compared to its average volume of 1,036,624. The stock’s 50-day moving average is $23.49 and its 200-day moving average is $31.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.08 and a quick ratio of 1.17. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.47. G-III Apparel Group, Ltd. has a 52 week low of $18.18 and a 52 week high of $48.79.
G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 5th. The textile maker reported $0.23 EPS for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $643.90 million for the quarter, compared to analysts’ expectations of $656.16 million. G-III Apparel Group had a return on equity of 12.37% and a net margin of 4.53%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 3.19 earnings per share for the current fiscal year.
A number of analysts have weighed in on GIII shares. TheStreet cut G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Zacks Investment Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Stifel Nicolaus set a $22.00 price target on G-III Apparel Group and gave the company a “hold” rating in a research report on Friday, September 6th. Piper Jaffray Companies upped their price target on G-III Apparel Group from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Needham & Company LLC lowered their price target on G-III Apparel Group from $47.00 to $34.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. G-III Apparel Group has a consensus rating of “Hold” and an average target price of $33.40.
In other G-III Apparel Group news, CEO Morris Goldfarb bought 40,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were bought at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at $86,040,285.01. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate 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 in 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.
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