Charles Schwab Investment Management Inc. Has $31.62 Million Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Charles Schwab Investment Management Inc. boosted its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,036,158 shares of the textile maker’s stock after acquiring an additional 6,598 shares during the period. Charles Schwab Investment Management Inc. owned 2.36% of G-III Apparel Group worth $31,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GIII. Price T Rowe Associates Inc. MD lifted its stake in shares of G-III Apparel Group by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 30,911 shares of the textile maker’s stock valued at $897,000 after buying an additional 1,485 shares during the period. CWM LLC lifted its stake in shares of 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 buying an additional 1,012 shares during the period. SG Americas Securities LLC lifted its stake in shares of G-III Apparel Group by 162.2% in the second quarter. SG Americas Securities LLC now owns 95,308 shares of the textile maker’s stock valued at $2,580,000 after buying an additional 58,959 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of G-III Apparel Group in the second quarter valued at about $257,000. Finally, SummerHaven Investment Management LLC lifted its stake 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 buying an additional 516 shares during the period. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GIII shares. KeyCorp increased their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report 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 stock an “underweight” rating in a research report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday. Guggenheim started coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus price target of $30.00.

G-III Apparel Group Price Performance

Shares of GIII stock opened at $31.76 on Wednesday. The firm’s 50 day moving average price is $30.54 and its two-hundred day moving average price is $28.50. The stock has a market cap of $1.39 billion, a PE ratio of 7.94 and a beta of 2.14. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

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

Insider Activity at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the transaction, the chief executive officer now directly owns 3,990,085 shares in the company, valued at $126,046,785.15. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by insiders.

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.