Miramar Capital LLC Lowers Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Miramar Capital LLC lowered its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 75.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,000 shares of the textile maker’s stock after selling 45,000 shares during the period. Miramar Capital LLC’s holdings in G-III Apparel Group were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GIII. Hsbc Holdings PLC raised its holdings in shares of G-III Apparel Group by 26.1% in the 2nd quarter. Hsbc Holdings PLC now owns 57,936 shares of the textile maker’s stock worth $1,565,000 after purchasing an additional 12,006 shares during the period. Dimensional Fund Advisors LP raised its holdings in G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after buying an additional 151,425 shares during the period. American Century Companies Inc. raised its holdings in G-III Apparel Group by 15.6% in the second quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares during the period. Texas Permanent School Fund Corp lifted its position in G-III Apparel Group by 6.2% during the second quarter. Texas Permanent School Fund Corp now owns 37,835 shares of the textile maker’s stock valued at $1,024,000 after buying an additional 2,217 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of G-III Apparel Group by 0.6% in the second quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock worth $23,055,000 after acquiring an additional 5,200 shares in the last quarter. Institutional investors and hedge funds own 92.13% of the company’s stock.

G-III Apparel Group Stock Down 0.8 %

Shares of G-III Apparel Group stock opened at $31.80 on Thursday. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68. The company has a market capitalization of $1.43 billion, a PE ratio of 8.32 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 2.62. The business has a 50-day moving average of $26.82 and a 200-day moving average of $27.60.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. G-III Apparel Group’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. As a group, equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

GIII has been the topic of several recent research reports. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Barclays boosted their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. KeyCorp increased their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Company 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 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.