Mycio Wealth Partners LLC Makes New Investment in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Mycio Wealth Partners LLC bought a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the textile maker’s stock, valued at approximately $294,000.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in G-III Apparel Group by 3.3% during the 1st quarter. Nordea Investment Management AB now owns 82,300 shares of the textile maker’s stock worth $3,289,000 after purchasing an additional 2,600 shares during the last quarter. First Hawaiian Bank grew its position in 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 purchasing an additional 2,930 shares during the last quarter. Peregrine Capital Management LLC grew its position in G-III Apparel Group by 6.4% during the 2nd quarter. Peregrine Capital Management LLC now owns 593,901 shares of the textile maker’s stock worth $17,473,000 after purchasing an additional 35,871 shares during the last quarter. Menta Capital LLC grew its position in G-III Apparel Group by 37.9% during the 1st quarter. Menta Capital LLC now owns 12,371 shares of the textile maker’s stock worth $494,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Rhumbline Advisers grew its position in G-III Apparel Group by 0.5% during the 1st quarter. Rhumbline Advisers now owns 126,726 shares of the textile maker’s stock worth $5,064,000 after purchasing an additional 594 shares during the last quarter.

In other news, CEO Morris Goldfarb purchased 40,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were purchased at an average cost of $26.47 per share, with a total value 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 approximately $86,040,285.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.60% of the company’s stock.

Several research firms have recently commented on GIII. Piper Jaffray Companies set a $22.00 price objective on shares of G-III Apparel Group and gave the company a “hold” rating in a report on Friday, August 16th. ValuEngine downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Monday, May 13th. KeyCorp dropped their price objective on shares of G-III Apparel Group from $52.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, June 6th. B. Riley dropped their price objective on shares of G-III Apparel Group from $47.00 to $37.00 and set a “buy” rating on the stock in a report on Monday. Finally, Bank of America dropped their price objective on shares of G-III Apparel Group from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. G-III Apparel Group presently has a consensus rating of “Hold” and a consensus target price of $39.40.

Shares of GIII stock traded up $0.16 during trading hours on Thursday, hitting $21.34. The company’s stock had a trading volume of 14,774 shares, compared to its average volume of 722,511. The company has a 50 day moving average of $26.11 and a 200 day moving average of $32.59. The stock has a market cap of $1.06 billion, a PE ratio of 7.41, a price-to-earnings-growth ratio of 0.62 and a beta of 1.39. The company has a current ratio of 2.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.59. G-III Apparel Group, Ltd. has a 12-month low of $19.89 and a 12-month high of $50.83.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.03. G-III Apparel Group had a net margin of 4.53% and a return on equity of 12.59%. The firm had revenue of $633.60 million for the quarter, compared to the consensus estimate of $650.03 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that G-III Apparel Group, Ltd. will post 3.26 earnings per share for the current fiscal 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 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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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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