Lisanti Capital Growth LLC cut its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 27.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,355 shares of the textile maker’s stock after selling 9,595 shares during the quarter. Lisanti Capital Growth LLC owned approximately 0.05% of G-III Apparel Group worth $1,222,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in GIII. Copper Rock Capital Partners LLC purchased a new stake in G-III Apparel Group during the 3rd quarter valued at about $24,060,000. BlackRock Inc. boosted its holdings in G-III Apparel Group by 6.5% during the 2nd quarter. BlackRock Inc. now owns 5,782,367 shares of the textile maker’s stock valued at $256,736,000 after acquiring an additional 351,433 shares during the period. OppenheimerFunds Inc. boosted its holdings in G-III Apparel Group by 745.4% during the 2nd quarter. OppenheimerFunds Inc. now owns 376,984 shares of the textile maker’s stock valued at $16,739,000 after acquiring an additional 332,389 shares during the period. Jennison Associates LLC boosted its holdings in G-III Apparel Group by 1,640.5% during the 2nd quarter. Jennison Associates LLC now owns 271,525 shares of the textile maker’s stock valued at $12,056,000 after acquiring an additional 255,925 shares during the period. Finally, Eagle Asset Management Inc. purchased a new stake in G-III Apparel Group during the 2nd quarter valued at about $8,198,000.
GIII has been the subject of several analyst reports. BidaskClub upgraded G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 11th. Buckingham Research increased their price objective on G-III Apparel Group from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, September 7th. ValuEngine cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Piper Jaffray Companies set a $51.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday, September 6th. Finally, Zacks Investment Research cut G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $50.64.
NASDAQ GIII opened at $40.99 on Friday. G-III Apparel Group, Ltd. has a fifty-two week low of $24.38 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.12 and a quick ratio of 0.99. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.35.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 6th. The textile maker reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.19. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business had revenue of $624.70 million during the quarter, compared to analysts’ expectations of $590.16 million. During the same quarter last year, the business posted ($0.15) EPS. The business’s revenue was up 16.1% on a year-over-year basis. As a group, research analysts expect that G-III Apparel Group, Ltd. will post 2.61 earnings per share for the current year.
In other news, COO Wayne S. Miller sold 19,448 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $40.09, for a total value of $779,670.32. Following the completion of the transaction, the chief operating officer now owns 248,621 shares in the company, valued at approximately $9,967,215.89. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.80% of the company’s stock.
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G-III Apparel Group Profile
G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
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