Eagle Asset Management Inc. grew its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 21.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 223,484 shares of the textile maker’s stock after acquiring an additional 38,837 shares during the quarter. Eagle Asset Management Inc.’s holdings in G-III Apparel Group were worth $10,769,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Moody National Bank Trust Division purchased a new stake in shares of G-III Apparel Group in the third quarter valued at approximately $188,000. Acadian Asset Management LLC purchased a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $193,000. Everence Capital Management Inc. purchased a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $227,000. AMP Capital Investors Ltd purchased a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $266,000. Finally, Pitcairn Co. purchased a new stake in shares of G-III Apparel Group in the third quarter valued at approximately $292,000.
A number of analysts have recently commented on GIII shares. Piper Jaffray Companies set a $51.00 price objective on G-III Apparel Group and gave the company a “buy” rating in a research report on Thursday, September 6th. Needham & Company LLC set a $56.00 price target on G-III Apparel Group and gave the stock a “buy” rating in a research note on Friday, September 7th. Buckingham Research lifted their price target on 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 lowered G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. Finally, Cowen set a $45.00 price target on G-III Apparel Group and gave the stock a “buy” rating in a research note on Thursday, October 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.64.
G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 6th. The textile maker reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.19. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $590.16 million. G-III Apparel Group had a return on equity of 10.67% and a net margin of 3.39%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. Research analysts anticipate that G-III Apparel Group, Ltd. will post 2.61 EPS for the current fiscal 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 stock was sold at an average price of $40.09, for a total transaction of $779,670.32. Following the transaction, the chief operating officer now owns 248,621 shares of the company’s stock, valued at $9,967,215.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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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