Mackenzie Financial Corp Sells 810 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Mackenzie Financial Corp reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 8.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,532 shares of the textile maker’s stock after selling 810 shares during the quarter. Mackenzie Financial Corp’s holdings in G-III Apparel Group were worth $231,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC raised its stake in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new stake in G-III Apparel Group during the second quarter valued at approximately $78,000. Innealta Capital LLC bought a new position in shares of G-III Apparel Group in the 2nd quarter worth $124,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of G-III Apparel Group during the 1st quarter valued at $171,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

GIII has been the subject of several research analyst reports. KeyCorp lifted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Barclays increased their price target on shares of 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. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average price target of $28.80.

G-III Apparel Group Trading Down 1.5 %

Shares of GIII stock opened at $29.67 on Tuesday. The stock’s 50-day moving average price is $27.98 and its 200-day moving average price is $27.79. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 7.77 and a beta of 2.19. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results 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. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same period last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts predict that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Morris Goldfarb sold 67,014 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.40% of the company’s stock.

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 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.