Bailard Inc. Purchases New Shares in G-III Apparel Group, LTD. (NASDAQ:GIII)

Bailard Inc. purchased a new stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,800 shares of the textile maker's stock, valued at approximately $596,000.

Other institutional investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its stake in G-III Apparel Group by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker's stock valued at $816,000 after purchasing an additional 461 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in G-III Apparel Group by 18.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock worth $117,000 after buying an additional 564 shares in the last quarter. Janney Montgomery Scott LLC raised its position in G-III Apparel Group by 5.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker's stock worth $454,000 after buying an additional 861 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in G-III Apparel Group by 1.3% during the 4th quarter. BNP Paribas Financial Markets now owns 79,173 shares of the textile maker's stock valued at $2,583,000 after acquiring an additional 995 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of G-III Apparel Group by 7.8% during the 4th quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock valued at $493,000 after acquiring an additional 1,090 shares during the last quarter. Hedge funds and other institutional investors own 92.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on GIII. Telsey Advisory Group lowered their target price on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a report on Monday, June 9th. UBS Group lowered their price objective on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, June 9th. Barclays cut their target price on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, June 9th. Wall Street Zen downgraded shares of G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, KeyCorp dropped their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of "Hold" and an average target price of $27.80.

Insider Activity

In other G-III Apparel Group news, Director Amigo Victor Herrero acquired 5,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the purchase, the director owned 54,746 shares in the company, valued at approximately $1,201,674.70. The trade was a 10.05% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.00% of the stock is currently owned by insiders.

G-III Apparel Group Stock Performance

G-III Apparel Group stock traded up $0.82 during trading hours on Wednesday, hitting $24.33. The company had a trading volume of 501,591 shares, compared to its average volume of 577,649. The firm has a market cap of $1.05 billion, a P/E ratio of 5.63 and a beta of 1.38. The company has a 50-day moving average price of $24.51 and a two-hundred day moving average price of $26.59. G-III Apparel Group, LTD. has a 1 year low of $20.33 and a 1 year high of $36.18.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.06. The firm had revenue of $583.61 million for the quarter, compared to the consensus estimate of $579.48 million. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The company's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.12 EPS. As a group, equities research analysts anticipate that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

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.