Ameriprise Financial Inc. Reduces Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Ameriprise Financial Inc. trimmed its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 215,843 shares of the textile maker's stock after selling 107,643 shares during the quarter. Ameriprise Financial Inc. owned 0.49% of G-III Apparel Group worth $7,041,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GIII. AlphaQuest LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $49,000. Smartleaf Asset Management LLC increased its position in shares of G-III Apparel Group by 249.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $172,000. Wealthfront Advisers LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $215,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of G-III Apparel Group during the fourth quarter worth about $224,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Up 0.3%

NASDAQ:GIII opened at $27.51 on Friday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 7.22 and a beta of 1.41. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The stock has a 50-day simple moving average of $25.97 and a 200 day simple moving average of $28.98. 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 - Get Free Report) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.30. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The company had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. During the same period in the previous year, the firm posted $0.76 earnings per share. G-III Apparel Group's quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Ratings Changes

GIII has been the subject of a number of research reports. Barclays decreased their price target on G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. UBS Group decreased their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Telsey Advisory Group reiterated 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. Finally, Wall Street Zen upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of "Hold" and an average price target of $32.20.

G-III Apparel Group Company 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 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.

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