Channing Capital Management LLC Has $66.33 Million Stake in G-III Apparel Group, Ltd. (GIII)

Channing Capital Management LLC reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,376,403 shares of the textile maker’s stock after selling 27,605 shares during the quarter. G-III Apparel Group comprises about 2.4% of Channing Capital Management LLC’s holdings, making the stock its 17th biggest holding. Channing Capital Management LLC owned 2.80% of G-III Apparel Group worth $66,329,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB lifted its position in G-III Apparel Group by 20.0% during the second quarter. Xact Kapitalforvaltning AB now owns 7,816 shares of the textile maker’s stock valued at $347,000 after purchasing an additional 1,300 shares during the last quarter. Verity Asset Management Inc. lifted its holdings in shares of G-III Apparel Group by 19.2% in the 3rd quarter. Verity Asset Management Inc. now owns 8,283 shares of the textile maker’s stock worth $399,000 after acquiring an additional 1,336 shares during the last quarter. Carillon Tower Advisers Inc. lifted its holdings in shares of G-III Apparel Group by 2.0% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 80,601 shares of the textile maker’s stock worth $3,884,000 after acquiring an additional 1,605 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of G-III Apparel Group by 2.8% in the 3rd quarter. United Services Automobile Association now owns 58,674 shares of the textile maker’s stock worth $2,828,000 after acquiring an additional 1,605 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of G-III Apparel Group by 1.6% in the 2nd quarter. Rhumbline Advisers now owns 104,704 shares of the textile maker’s stock worth $4,649,000 after acquiring an additional 1,677 shares during the last quarter.

Several brokerages recently commented on GIII. Piper Jaffray Companies set a $54.00 target price on shares of G-III Apparel Group and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Buckingham Research lifted their target price on shares of G-III Apparel Group from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. BidaskClub raised shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 11th. Zacks Investment Research downgraded shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Finally, Cowen lifted their target price on shares of G-III Apparel Group from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, September 6th. Four investment 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 stock. G-III Apparel Group has a consensus rating of “Buy” and a consensus price target of $50.64.

Shares of G-III Apparel Group stock opened at $40.08 on Monday. The company has a current ratio of 2.12, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.03 and a beta of 0.33. G-III Apparel Group, Ltd. has a 12-month low of $28.81 and a 12-month high of $51.20.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.19. The business had revenue of $624.70 million for the quarter, compared to the consensus estimate of $590.16 million. G-III Apparel Group had a net margin of 3.39% and a return on equity of 10.67%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) EPS. On average, analysts forecast that G-III Apparel Group, Ltd. will post 2.61 earnings per share for the current year.

In other G-III Apparel Group news, COO Wayne S. Miller sold 19,448 shares of the business’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $40.09, for a total transaction of $779,670.32. Following the transaction, the chief operating officer now directly owns 248,621 shares of the company’s stock, valued at approximately $9,967,215.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.80% of the stock is currently owned by insiders.

ILLEGAL ACTIVITY NOTICE: “Channing Capital Management LLC Has $66.33 Million Stake in G-III Apparel Group, Ltd. (GIII)” was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another site, it was illegally copied and republished in violation of international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/12/03/channing-capital-management-llc-has-66-33-million-stake-in-g-iii-apparel-group-ltd-giii.html.

About G-III Apparel Group

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.

Featured Story: How Do Tariffs Affect Trade Balances?

Want to see what other hedge funds are holding GIII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for G-III Apparel Group, Ltd. (NASDAQ:GIII).

Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

Receive News & Ratings for G-III Apparel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for G-III Apparel Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply