G-III Apparel Group, LTD. (NASDAQ:GIII) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 302,441 shares of the textile maker's stock after selling 17,379 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of G-III Apparel Group worth $8,272,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of G-III Apparel Group in the fourth quarter worth about $375,000. Raymond James Financial Inc. purchased a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $5,428,000. Teacher Retirement System of Texas raised its stake in shares of G-III Apparel Group by 44.0% during the fourth quarter. Teacher Retirement System of Texas now owns 88,908 shares of the textile maker's stock valued at $2,900,000 after acquiring an additional 27,177 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of G-III Apparel Group by 344.7% during the fourth quarter. Quantbot Technologies LP now owns 26,427 shares of the textile maker's stock valued at $862,000 after acquiring an additional 20,485 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of G-III Apparel Group by 11.8% during the fourth quarter. American Century Companies Inc. now owns 1,461,446 shares of the textile maker's stock valued at $47,672,000 after acquiring an additional 153,913 shares in the last quarter. 92.13% of the stock is owned by institutional investors.

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 the stock in a transaction on Tuesday, June 24th. The shares were bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director owned 54,746 shares in the company, valued at $1,201,674.70. This trade represents a 10.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.00% of the stock is owned by company insiders.

G-III Apparel Group Stock Up 0.4%

Shares of GIII traded up $0.09 during trading hours on Friday, reaching $24.09. 451,163 shares of the company traded hands, compared to its average volume of 680,648. The stock has a market capitalization of $1.04 billion, a P/E ratio of 5.58 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 business has a fifty day moving average price of $24.28 and a 200-day moving average price of $26.41.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Monday, June 9th. KeyCorp reduced their price objective on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Barclays reduced their price objective on shares of G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a research note 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 note on Saturday, June 14th. Finally, Telsey Advisory Group reduced their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a research note on Monday, June 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of "Hold" and a consensus target price of $27.80.

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.