Jefferies Financial Group Inc. Makes New Investment in G-III Apparel Group, LTD. (NASDAQ:GIII)

Key Points

• Jefferies Financial Group Inc. has acquired a new position in G-III Apparel Group, purchasing 12,219 shares valued at approximately $334,000.
• Analysts have adjusted their price targets for G-III Apparel Group, with ratings ranging from "overweight" to "underweight," resulting in a current consensus target price of $27.80.
• G-III Apparel Group's stock reported a slight increase, hitting $24.39, as the company recently announced quarterly earnings exceeding estimates with revenues of $583.61 million.

Jefferies Financial Group Inc. acquired a new position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,219 shares of the textile maker's stock, valued at approximately $334,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its position in G-III Apparel Group by 45.8% during the first quarter. Picton Mahoney Asset Management now owns 14,642 shares of the textile maker's stock worth $400,000 after acquiring an additional 4,599 shares during the last quarter. Royce & Associates LP lifted its position in G-III Apparel Group by 43.9% during the first quarter. Royce & Associates LP now owns 42,421 shares of the textile maker's stock worth $1,160,000 after acquiring an additional 12,948 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in G-III Apparel Group by 2.9% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 125,280 shares of the textile maker's stock worth $3,426,000 after acquiring an additional 3,575 shares during the last quarter. Foundry Partners LLC lifted its position in G-III Apparel Group by 16.1% during the first quarter. Foundry Partners LLC now owns 216,917 shares of the textile maker's stock worth $5,933,000 after acquiring an additional 30,101 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in G-III Apparel Group during the first quarter worth approximately $596,000. 92.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GIII has been the subject of a number of analyst reports. UBS Group dropped 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 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. Telsey Advisory Group dropped their price target 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 report on Monday, June 9th. KeyCorp dropped their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Finally, Barclays dropped their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $27.80.

Insider Transactions at G-III Apparel Group

In other news, Director Amigo Victor Herrero acquired 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were acquired 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 directly owned 54,746 shares of the company's stock, valued at $1,201,674.70. The trade was a 10.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.00% of the stock is owned by company insiders.

G-III Apparel Group Price Performance

NASDAQ:GIII traded up $0.94 during mid-day trading on Tuesday, reaching $25.35. The stock had a trading volume of 103,104 shares, compared to its average volume of 629,330. The stock has a 50-day simple moving average of $23.39 and a two-hundred day simple moving average of $25.83. The stock has a market capitalization of $1.10 billion, a PE ratio of 5.87 and a beta of 1.49. G-III Apparel Group, LTD. has a 12 month low of $20.33 and a 12 month high of $36.18.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.06. The business had revenue of $583.61 million for the quarter, compared to analysts' expectations of $579.48 million. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. Equities analysts expect that G-III Apparel Group, LTD. will post 4.16 EPS 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.