Rothschild & Co. Asset Management US Inc. boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 706,410 shares of the textile maker’s stock after purchasing an additional 83,211 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in G-III Apparel Group were worth $20,783,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NJ State Employees Deferred Compensation Plan bought a new stake in G-III Apparel Group in the 2nd quarter valued at about $412,000. Peregrine Capital Management LLC lifted its position in G-III Apparel Group by 6.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 593,901 shares of the textile maker’s stock valued at $17,473,000 after purchasing an additional 35,871 shares during the last quarter. Profit Investment Management LLC lifted its position in G-III Apparel Group by 10.7% in the 2nd quarter. Profit Investment Management LLC now owns 112,690 shares of the textile maker’s stock valued at $3,315,000 after purchasing an additional 10,893 shares during the last quarter. First Hawaiian Bank raised its position in shares of G-III Apparel Group by 54.4% during the 2nd quarter. First Hawaiian Bank now owns 8,320 shares of the textile maker’s stock worth $245,000 after buying an additional 2,930 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth about $14,552,000.
Shares of GIII stock traded down $0.53 during midday trading on Wednesday, reaching $24.72. 3,884 shares of the company were exchanged, compared to its average volume of 785,166. G-III Apparel Group, Ltd. has a 12 month low of $23.34 and a 12 month high of $50.83. The stock has a market capitalization of $1.27 billion, a P/E ratio of 8.69, a P/E/G ratio of 0.74 and a beta of 1.39. The business has a 50 day simple moving average of $27.82. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.17 and a current ratio of 2.17.
In other G-III Apparel Group news, CEO Morris Goldfarb bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were acquired at an average cost of $26.47 per share, for a total transaction of $1,058,800.00. Following the acquisition, the chief executive officer now directly 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 the SEC website. 8.60% of the stock is owned by insiders.
A number of analysts have commented on GIII shares. Telsey Advisory Group restated an “outperform” rating and set a $34.00 price target (down from $47.00) on shares of G-III Apparel Group in a research report on Thursday, June 6th. ValuEngine downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. BidaskClub downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday. TheStreet downgraded shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Finally, Piper Jaffray Companies downgraded shares of G-III Apparel Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $35.00 in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. G-III Apparel Group currently has a consensus rating of “Buy” and an average target price of $41.70.
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 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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