LSV Asset Management Acquires 98,923 Shares of G-III Apparel Group, LTD. (NASDAQ:GIII)

LSV Asset Management lifted its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 13.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 846,904 shares of the textile maker's stock after purchasing an additional 98,923 shares during the quarter. LSV Asset Management owned about 1.93% of G-III Apparel Group worth $23,163,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SummerHaven Investment Management LLC lifted its stake in G-III Apparel Group by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker's stock valued at $816,000 after buying an additional 461 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake 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 valued at $117,000 after acquiring an additional 564 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in G-III Apparel Group by 5.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker's stock valued at $454,000 after acquiring an additional 861 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of G-III Apparel Group by 1.3% in the 4th quarter. BNP Paribas Financial Markets now owns 79,173 shares of the textile maker's stock valued at $2,583,000 after buying an additional 995 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in G-III Apparel Group by 7.8% in the 4th quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock worth $493,000 after purchasing an additional 1,090 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen lowered G-III Apparel Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group cut 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 note on Monday, June 9th. Telsey Advisory Group dropped their price target on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a research report on Monday, June 9th. Barclays decreased 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. Finally, KeyCorp dropped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. 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 Stock Down 0.7%

NASDAQ:GIII traded down $0.17 on Thursday, hitting $24.27. The stock had a trading volume of 207,092 shares, compared to its average volume of 634,346. The company has a market cap of $1.05 billion, a PE ratio of 5.62 and a beta of 1.49. G-III Apparel Group, LTD. has a 52 week low of $20.33 and a 52 week high of $36.18. The business's fifty day moving average is $23.65 and its 200 day moving average is $26.05.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its earnings results on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping 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 was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. Equities analysts predict that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

Insider Transactions at G-III Apparel Group

In other news, Director Amigo Victor Herrero purchased 5,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was purchased at an average price 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 in the company, valued at approximately $1,201,674.70. This trade represents a 10.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.00% of the stock is currently owned by company insiders.

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.