LPL Financial LLC Increases Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

LPL Financial LLC grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 25.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,321 shares of the textile maker's stock after buying an additional 13,550 shares during the period. LPL Financial LLC owned 0.15% of G-III Apparel Group worth $2,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC purchased a new stake in shares of G-III Apparel Group in the fourth quarter valued at approximately $49,000. Smartleaf Asset Management LLC increased its stake in shares of G-III Apparel Group by 249.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after acquiring an additional 1,412 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth about $215,000. Cornerstone Investment Partners LLC purchased a new position in shares of G-III Apparel Group in the fourth quarter valued at approximately $224,000. Finally, Virtu Financial LLC acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $211,000. 92.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on GIII shares. UBS Group dropped their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. Telsey Advisory Group restated a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research note on Friday, April 4th. Finally, Barclays lowered their price target on shares of G-III Apparel Group from $29.00 to $25.00 and set an "underweight" rating for the company in a report on Tuesday, March 18th. 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 data from MarketBeat, G-III Apparel Group has a consensus rating of "Hold" and a consensus target price of $33.00.

G-III Apparel Group Stock Up 2.9 %

Shares of NASDAQ GIII traded up $0.68 during mid-day trading on Friday, reaching $24.22. The company had a trading volume of 439,071 shares, compared to its average volume of 554,478. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18. The stock has a market cap of $1.06 billion, a P/E ratio of 6.36 and a beta of 1.63. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13. The firm has a 50 day simple moving average of $26.46 and a two-hundred day simple moving average of $29.70.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last posted its earnings results on Thursday, March 13th. The textile maker reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to analysts' expectations of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

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.