Bailard Inc. Takes $596,000 Position in G-III Apparel Group, LTD. (NASDAQ:GIII)

Bailard Inc. bought a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,800 shares of the textile maker's stock, valued at approximately $596,000.

Several other institutional investors also recently modified their holdings of GIII. Public Employees Retirement System of Ohio bought a new position in shares of G-III Apparel Group during the 4th quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in G-III Apparel Group by 18.6% during 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 during the period. DekaBank Deutsche Girozentrale bought a new position in G-III Apparel Group in the first quarter valued at approximately $106,000. Headlands Technologies LLC acquired a new position in shares of G-III Apparel Group in the fourth quarter valued at approximately $172,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of G-III Apparel Group in the fourth quarter valued at approximately $217,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, Director Amigo Victor Herrero purchased 5,000 shares of G-III Apparel Group stock in a transaction that occurred on Tuesday, June 24th. The stock was acquired at an average price of $21.95 per share, with a total value of $109,750.00. Following the transaction, the director owned 54,746 shares in the company, valued at $1,201,674.70. This trade represents a 10.05% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GIII has been the subject of several analyst reports. KeyCorp decreased their price objective on G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Wall Street Zen cut G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group lowered their price target on G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, June 9th. Telsey Advisory Group cut their price objective on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research report on Monday, June 9th. Finally, Barclays decreased their target price on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $27.80.

G-III Apparel Group Trading Down 3.3%

Shares of NASDAQ GIII opened at $23.08 on Friday. The company has a market cap of $999.59 million, a price-to-earnings ratio of 5.34 and a beta of 1.38. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $36.18. The stock has a 50-day moving average price of $24.70 and a two-hundred day moving average price of $26.71.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. The firm had revenue of $583.61 million during 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 revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. On average, sell-side analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

G-III Apparel Group 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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