G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by American International Group Inc.


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American International Group Inc. decreased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,588 shares of the textile maker’s stock after selling 716 shares during the quarter. American International Group Inc. owned about 0.06% of G-III Apparel Group worth $702,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of G-III Apparel Group during the third quarter worth $26,000. Vantage Consulting Group Inc acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth $26,000. Veriti Management LLC acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth $78,000. Public Employees Retirement System of Ohio boosted its holdings in shares of G-III Apparel Group by 19.6% during the third quarter. Public Employees Retirement System of Ohio now owns 8,738 shares of the textile maker’s stock worth $115,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of G-III Apparel Group by 65.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,808 shares of the textile maker’s stock worth $138,000 after purchasing an additional 2,307 shares during the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.

Shares of NASDAQ GIII opened at $29.81 on Thursday. G-III Apparel Group, Ltd. has a 1 year low of $7.76 and a 1 year high of $34.71. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 4.29 and a beta of 2.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.89 and a current ratio of 2.85. The stock’s 50-day simple moving average is $30.66 and its 200-day simple moving average is $23.43.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Wednesday, March 17th. The textile maker reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.07. G-III Apparel Group had a return on equity of 3.91% and a net margin of 1.50%. The business had revenue of $526.20 million for the quarter, compared to analyst estimates of $534.38 million. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. As a group, research analysts predict that G-III Apparel Group, Ltd. will post 0.56 EPS for the current year.

GIII has been the topic of a number of research analyst reports. KeyCorp lifted their target price on G-III Apparel Group from $30.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, March 25th. Telsey Advisory Group lifted their target price on G-III Apparel Group from $24.00 to $33.00 and gave the company a “market perform” rating in a report on Tuesday, March 16th. Piper Sandler lifted their target price on G-III Apparel Group from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, March 19th. B. Riley lifted their target price on G-III Apparel Group from $33.00 to $38.00 and gave the company a “buy” rating in a report on Friday, March 19th. Finally, Barclays raised their price objective on G-III Apparel Group from $24.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, March 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $26.50.

In related news, COO Wayne S. Miller sold 65,783 shares of the business’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $33.71, for a total value of $2,217,544.93. Following the completion of the sale, the chief operating officer now directly owns 249,201 shares of the company’s stock, valued at $8,400,565.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.50% of the stock is owned by insiders.

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 in 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.

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Institutional Ownership by Quarter for G-III Apparel Group (NASDAQ:GIII)

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