Great Lakes Advisors LLC Invests $4.49 Million in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Great Lakes Advisors LLC acquired a new position in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 233,181 shares of the textile maker’s stock, valued at approximately $4,493,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Madison Avenue Partners LP acquired a new position in shares of G-III Apparel Group in the 4th quarter worth approximately $25,716,000. Wasatch Advisors Inc. acquired a new position in G-III Apparel Group in the first quarter valued at $28,890,000. Norges Bank bought a new stake in G-III Apparel Group during the fourth quarter valued at $6,479,000. Morgan Stanley grew its holdings in G-III Apparel Group by 66.2% during the 4th quarter. Morgan Stanley now owns 1,017,476 shares of the textile maker’s stock worth $13,950,000 after acquiring an additional 405,402 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of G-III Apparel Group by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 4,874,631 shares of the textile maker’s stock worth $131,858,000 after acquiring an additional 332,865 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors.

G-III Apparel Group Stock Performance

GIII opened at $28.58 on Tuesday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -7.40 and a beta of 2.53. The company’s fifty day moving average price is $25.25 and its two-hundred day moving average price is $21.46. G-III Apparel Group, Ltd. has a 1-year low of $11.60 and a 1-year high of $28.71. The company has a current ratio of 2.57, a quick ratio of 1.28 and a debt-to-equity ratio of 0.29.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, September 7th. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.39. The business had revenue of $659.80 million for the quarter, compared to analysts’ expectations of $591.39 million. G-III Apparel Group had a negative net margin of 5.64% and a positive return on equity of 7.63%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts expect that G-III Apparel Group, Ltd. will post 3.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group upped their target price on G-III Apparel Group from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, September 8th. Barclays raised their price objective on shares of G-III Apparel Group from $20.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Wells Fargo & Company boosted their target price on shares of G-III Apparel Group from $19.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Telsey Advisory Group lifted their price target on shares of G-III Apparel Group from $22.00 to $24.00 in a research note on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.14.

Insider Activity

In related news, Director Laura H. Pomerantz sold 10,904 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $24.21, for a total transaction of $263,985.84. Following the completion of the sale, the director now owns 20,166 shares in the company, valued at $488,218.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Laura H. Pomerantz sold 10,904 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $24.21, for a total transaction of $263,985.84. Following the transaction, the director now directly owns 20,166 shares of the company’s stock, valued at $488,218.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Feller sold 10,000 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $24.04, for a total transaction of $240,400.00. Following the completion of the sale, the director now directly owns 29,357 shares of the company’s stock, valued at $705,742.28. The disclosure for this sale can be found here. Corporate insiders own 13.20% 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.