Foundry Partners LLC Raises Stake in G-III Apparel Group, LTD. (NASDAQ:GIII)

Foundry Partners LLC raised its position in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 16.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 216,917 shares of the textile maker's stock after purchasing an additional 30,101 shares during the quarter. Foundry Partners LLC owned about 0.49% of G-III Apparel Group worth $5,933,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. SummerHaven Investment Management LLC boosted its holdings in G-III Apparel Group by 1.6% in 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 period. Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of 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. Janney Montgomery Scott LLC lifted its stake in G-III Apparel Group by 5.5% during the first quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker's stock worth $454,000 after purchasing an additional 861 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 worth $2,583,000 after purchasing an additional 995 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in G-III Apparel Group by 7.8% in the fourth quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock valued at $493,000 after buying an additional 1,090 shares during the period. 92.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GIII shares. Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. KeyCorp cut their price target 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. Telsey Advisory Group lowered their target price on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating for the company in a report on Monday, June 9th. Barclays reduced their target price on 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. Finally, UBS Group dropped their price objective 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. One equities research 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. According to MarketBeat, G-III Apparel Group has an average rating of "Hold" and a consensus target price of $27.80.

Insider Activity at G-III Apparel Group

In related news, Director Amigo Victor Herrero bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was bought at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the purchase, the director owned 54,746 shares of the company's stock, valued at approximately $1,201,674.70. The trade was a 10.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.00% of the stock is currently owned by insiders.

G-III Apparel Group Trading Down 3.3%

GIII stock traded down $0.79 during trading on Friday, hitting $23.08. The company had a trading volume of 564,667 shares, compared to its average volume of 578,890. The company has a fifty day moving average price of $24.70 and a two-hundred day moving average price of $26.71. G-III Apparel Group, LTD. has a fifty-two week low of $20.33 and a fifty-two week high of $36.18. The company has a market cap of $999.59 million, a P/E ratio of 5.34 and a beta of 1.38.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last issued its earnings results 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 the consensus estimate of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. The company's revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. On average, analysts expect 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.