Nordea Investment Management AB increased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,300 shares of the textile maker’s stock after purchasing an additional 2,600 shares during the quarter. Nordea Investment Management AB owned 0.17% of G-III Apparel Group worth $3,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in GIII. GYL Financial Synergies LLC purchased a new position in G-III Apparel Group during the 1st quarter worth $1,830,000. Marshall Wace LLP acquired a new stake in shares of G-III Apparel Group in the 1st quarter worth $6,327,000. Trexquant Investment LP acquired a new stake in shares of G-III Apparel Group in the 1st quarter worth $1,581,000. Actinver Wealth Management Inc. acquired a new stake in shares of G-III Apparel Group in the 1st quarter worth $206,000. Finally, Hillcrest Asset Management LLC boosted its position in shares of G-III Apparel Group by 36.0% in the 1st quarter. Hillcrest Asset Management LLC now owns 212,885 shares of the textile maker’s stock worth $8,507,000 after purchasing an additional 56,404 shares in the last quarter.
A number of research firms have recently weighed in on GIII. Barclays reissued a “buy” rating on shares of Bayerische Motoren Werke in a research report on Friday, March 22nd. Needham & Company LLC set a $47.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research note on Thursday, June 6th. Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the company a “hold” rating in a research note on Thursday, June 6th. Piper Jaffray Companies set a $9.00 price target on FTS International and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $36.00 price target (down previously from $38.00) on shares of Steven Madden in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. G-III Apparel Group presently has an average rating of “Buy” and a consensus price target of $41.70.
G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Wednesday, June 5th. The textile maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. G-III Apparel Group had a return on equity of 12.59% and a net margin of 4.53%. The firm had revenue of $633.60 million for the quarter, compared to analysts’ expectations of $650.03 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict that G-III Apparel Group, Ltd. will post 3.27 earnings per share for the current fiscal year.
In related news, CEO Morris Goldfarb acquired 40,000 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were acquired at an average price of $26.47 per share, with a total value of $1,058,800.00. Following the completion of the transaction, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at $86,040,285.01. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.60% of the stock is owned by corporate 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 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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