Rhumbline Advisers Trims Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Rhumbline Advisers lowered its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,323 shares of the textile maker’s stock after selling 2,655 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of G-III Apparel Group worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp lifted its stake in G-III Apparel Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after buying an additional 482 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of G-III Apparel Group by 1.0% in the first quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after purchasing an additional 498 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of G-III Apparel Group by 1.4% in the second quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after purchasing an additional 516 shares during the period. Hsbc Holdings PLC grew its holdings in G-III Apparel Group by 1.1% during the fourth quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after acquiring an additional 532 shares during the period. Finally, ProShare Advisors LLC grew its holdings in G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after acquiring an additional 572 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. KeyCorp upped their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Barclays upped their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.80.

G-III Apparel Group Stock Performance

NASDAQ GIII opened at $31.74 on Tuesday. The business’s 50-day moving average price is $26.69 and its 200 day moving average price is $27.61. G-III Apparel Group, Ltd. has a twelve month low of $20.66 and a twelve month high of $35.68. The company has a market capitalization of $1.43 billion, a PE ratio of 8.31 and a beta of 2.19. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $644.80 million for the quarter, compared to the consensus estimate of $649.54 million. During the same period in the prior year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.