G-III Apparel Group, LTD. (NASDAQ:GIII) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in G-III Apparel Group by 43.9% in the first quarter, owning 42,421 shares valued at approximately $1.16 million.
• Multiple analysts downgraded G-III Apparel Group's ratings, with target prices being cut significantly, ranging from $40.00 to $18.00. The consensus rating for the stock is a "Hold" with a target price of $27.80.
• G-III Apparel Group reported $0.19 EPS for the last quarter, surpassing analyst expectations, despite a 4.3% decline in revenue compared to the previous year.

Royce & Associates LP lifted its stake in G-III Apparel Group, LTD. (NASDAQ:GIII - Free Report) by 43.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,421 shares of the textile maker's stock after buying an additional 12,948 shares during the period. Royce & Associates LP owned approximately 0.10% of G-III Apparel Group worth $1,160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GIII. Public Employees Retirement System of Ohio purchased a new position in G-III Apparel Group in the fourth quarter valued at about $68,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in G-III Apparel Group by 18.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker's stock valued at $117,000 after purchasing an additional 564 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in G-III Apparel Group in the first quarter valued at about $106,000. Headlands Technologies LLC purchased a new position in G-III Apparel Group in the fourth quarter valued at about $172,000. Finally, iSAM Funds UK Ltd purchased a new position in G-III Apparel Group in the fourth quarter valued at about $217,000. Hedge funds and other institutional investors own 92.13% of the company's stock.

G-III Apparel Group Trading Down 0.9%

NASDAQ GIII traded down $0.22 on Friday, hitting $23.38. 230,409 shares of the stock traded hands, compared to its average volume of 634,440. The stock has a 50-day moving average of $23.96 and a 200 day moving average of $26.24. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $36.18. The company has a market capitalization of $1.01 billion, a P/E ratio of 5.39 and a beta of 1.38.

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 the consensus estimate of $0.13 by $0.06. The firm had revenue of $583.61 million for the quarter, compared to analysts' expectations of $579.48 million. G-III Apparel Group had a return on equity of 12.65% and a net margin of 6.20%. G-III Apparel Group's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 earnings per share. As a group, equities research analysts expect that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GIII. Barclays reduced their price target on G-III Apparel Group from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, June 9th. KeyCorp reduced 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. Wall Street Zen downgraded 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 objective 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. Finally, Telsey Advisory Group cut their price objective on G-III Apparel Group from $30.00 to $27.00 and set a "market perform" rating on the stock in a research note 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 given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $27.80.

Insider Buying and Selling at G-III Apparel Group

In related news, Director Amigo Victor Herrero purchased 5,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were acquired at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director owned 54,746 shares of the company's stock, valued at $1,201,674.70. This trade represents a 10.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.00% of the company's stock.

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.