Bank of America Corp DE Sells 42,434 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Bank of America Corp DE lowered its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,552 shares of the textile maker's stock after selling 42,434 shares during the quarter. Bank of America Corp DE owned approximately 0.36% of G-III Apparel Group worth $5,205,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC purchased a new position in G-III Apparel Group in the 4th quarter worth about $49,000. Smartleaf Asset Management LLC boosted its position in G-III Apparel Group by 249.9% during the 4th 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 period. Headlands Technologies LLC acquired a new stake in G-III Apparel Group during the 4th quarter worth about $172,000. Wealthfront Advisers LLC acquired a new stake in G-III Apparel Group during the 4th quarter worth about $215,000. Finally, Cornerstone Investment Partners LLC acquired a new stake in G-III Apparel Group during the 4th quarter worth about $224,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Stock Down 0.6%

Shares of G-III Apparel Group stock traded down $0.18 during trading on Thursday, hitting $28.45. 506,124 shares of the stock traded hands, compared to its average volume of 553,912. The stock has a market cap of $1.25 billion, a P/E ratio of 7.47 and a beta of 1.41. 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, Ltd. has a twelve month low of $20.66 and a twelve month high of $36.18. The company has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $28.89.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Equities research analysts predict that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GIII has been the subject of a number of research reports. UBS Group decreased their price objective on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays decreased their price objective on G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating for the company in a research report on Monday, April 28th. Wall Street Zen upgraded G-III Apparel Group from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $30.00 price objective on shares of G-III Apparel Group in a research report on Friday, April 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus 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.