Peregrine Capital Management LLC Acquires 35,871 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Peregrine Capital Management LLC boosted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 6.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 593,901 shares of the textile maker’s stock after purchasing an additional 35,871 shares during the quarter. Peregrine Capital Management LLC owned about 1.21% of G-III Apparel Group worth $17,473,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GIII. Victory Capital Management Inc. increased its holdings in G-III Apparel Group by 72.0% in the first quarter. Victory Capital Management Inc. now owns 1,553,760 shares of the textile maker’s stock worth $62,088,000 after purchasing an additional 650,645 shares in the last quarter. Norges Bank bought a new stake in shares of G-III Apparel Group during the fourth quarter valued at approximately $13,887,000. Tributary Capital Management LLC bought a new stake in shares of G-III Apparel Group during the second quarter valued at approximately $14,552,000. Deutsche Bank AG increased its holdings in shares of G-III Apparel Group by 261.4% during the fourth quarter. Deutsche Bank AG now owns 579,761 shares of the textile maker’s stock valued at $16,168,000 after acquiring an additional 419,324 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its holdings in shares of G-III Apparel Group by 47.0% during the first quarter. Clark Capital Management Group Inc. now owns 990,614 shares of the textile maker’s stock valued at $39,585,000 after acquiring an additional 316,781 shares in the last quarter.

In related news, CEO Morris Goldfarb purchased 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was acquired at an average price of $26.47 per share, for a total transaction of $1,058,800.00. Following the completion of the acquisition, the chief executive officer now owns 3,250,483 shares of the company’s stock, valued at approximately $86,040,285.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.60% of the company’s stock.

GIII has been the subject of several recent research reports. Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the company a “hold” rating in a report on Thursday, June 6th. TheStreet downgraded Weis Markets from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. Piper Jaffray Companies set a $9.00 price objective on FTS International and gave the company a “buy” rating in a report on Tuesday, May 14th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Finally, Zacks Investment Research downgraded HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $41.70.

Shares of G-III Apparel Group stock opened at $29.06 on Wednesday. The stock’s fifty day moving average is $27.75. G-III Apparel Group, Ltd. has a 12-month low of $23.34 and a 12-month high of $50.83. The company has a market capitalization of $1.41 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.82 and a beta of 1.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.17 and a quick ratio of 1.17.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, June 5th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $633.60 million during the quarter, compared to the consensus estimate of $650.03 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. G-III Apparel Group’s revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 3.27 EPS for the current fiscal year.

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

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