Sei Investments Co. Sells 16,829 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Sei Investments Co. decreased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 37.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,675 shares of the textile maker’s stock after selling 16,829 shares during the period. Sei Investments Co. owned about 0.06% of G-III Apparel Group worth $776,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after buying an additional 1,012 shares in the last quarter. Innealta Capital LLC acquired a new position in G-III Apparel Group during the second quarter worth $124,000. Allspring Global Investments Holdings LLC bought a new position in shares of G-III Apparel Group during the first quarter valued at $171,000. ProShare Advisors LLC boosted its stake in shares of G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 572 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in shares of G-III Apparel Group in the 2nd quarter worth about $257,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GIII has been the subject of a number of research analyst reports. KeyCorp lifted their target price on shares of 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. StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 3rd. Telsey Advisory Group restated a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, Barclays raised their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and a consensus price target of $28.80.

G-III Apparel Group Price Performance

Shares of GIII stock opened at $29.61 on Wednesday. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The firm has a fifty day moving average of $28.03 and a 200-day moving average of $27.80. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 7.75 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping 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 business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current 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 of the company’s stock, valued at approximately $118,869,051.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 12.40% of the company’s stock.

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.