F M Investments LLC Sells 171,272 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

F M Investments LLC lessened its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 68.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,314 shares of the textile maker’s stock after selling 171,272 shares during the period. F M Investments LLC owned about 0.18% of G-III Apparel Group worth $2,620,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in shares of G-III Apparel Group by 513.2% during the fourth quarter. Victory Capital Management Inc. now owns 564,998 shares of the textile maker’s stock worth $18,430,000 after buying an additional 472,862 shares during the period. Barclays PLC boosted its position in G-III Apparel Group by 236.4% during the 3rd quarter. Barclays PLC now owns 282,661 shares of the textile maker’s stock worth $8,627,000 after acquiring an additional 198,647 shares during the last quarter. Foundry Partners LLC acquired a new position in G-III Apparel Group during the 4th quarter worth approximately $6,094,000. Jane Street Group LLC raised its holdings in shares of G-III Apparel Group by 269.9% in the third quarter. Jane Street Group LLC now owns 251,146 shares of the textile maker’s stock valued at $7,665,000 after purchasing an additional 183,246 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at approximately $5,428,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of analyst reports. Barclays decreased their target price on shares of G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Tuesday, March 18th. UBS Group decreased their price objective on G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $30.00 price target on shares of G-III Apparel Group in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group Stock Down 1.4 %

Shares of GIII stock opened at $24.79 on Friday. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 6.51 and a beta of 1.63. The firm’s 50-day moving average is $27.15 and its 200-day moving average is $29.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

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.