MAI Capital Management Acquires 750 Shares of G-III Apparel Group, Ltd. (GIII)

MAI Capital Management raised its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,815 shares of the textile maker’s stock after buying an additional 750 shares during the period. MAI Capital Management’s holdings in G-III Apparel Group were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GIII. State of Alaska Department of Revenue raised its position in G-III Apparel Group by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 4,830 shares of the textile maker’s stock worth $105,000 after buying an additional 80 shares in the last quarter. Genesee Valley Trust Co. raised its position in G-III Apparel Group by 7.0% in the first quarter. Genesee Valley Trust Co. now owns 10,209 shares of the textile maker’s stock worth $223,000 after buying an additional 669 shares in the last quarter. Mason Street Advisors LLC raised its position in G-III Apparel Group by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,236 shares of the textile maker’s stock worth $224,000 after buying an additional 670 shares in the last quarter. Sawtooth Solutions LLC acquired a new position in G-III Apparel Group during the first quarter worth approximately $238,000. Finally, Atria Investments LLC raised its position in G-III Apparel Group by 35.6% in the first quarter. Atria Investments LLC now owns 11,609 shares of the textile maker’s stock worth $254,000 after buying an additional 3,048 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.

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

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) traded up 1.07% during mid-day trading on Friday, hitting $20.37. 792,647 shares of the company’s stock traded hands. G-III Apparel Group, Ltd. has a 1-year low of $18.00 and a 1-year high of $51.81. The stock has a market cap of $990.80 million, a P/E ratio of 18.52 and a beta of 0.53. The stock has a 50 day moving average price of $22.83 and a 200-day moving average price of $25.94.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Monday, March 27th. The textile maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.06. G-III Apparel Group had a return on equity of 9.13% and a net margin of 3.46%. The firm had revenue of $603.30 million during the quarter, compared to analyst estimates of $622.76 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post $1.01 EPS for the current fiscal year.

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A number of research analysts have commented on GIII shares. Zacks Investment Research upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a research note on Monday, March 13th. Piper Jaffray Companies set a $19.00 price objective on shares of G-III Apparel Group and gave the company a “hold” rating in a research note on Monday, March 27th. Cowen and Company dropped their price objective on shares of G-III Apparel Group from $27.00 to $22.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 28th. Finally, KeyCorp restated an “overweight” rating and issued a $41.00 price objective on shares of G-III Apparel Group in a research note on Friday, April 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $29.38.

In other news, CEO Morris Goldfarb bought 6,843 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was bought at an average cost of $21.99 per share, for a total transaction of $150,477.57. Following the completion of the acquisition, the chief executive officer now directly owns 3,879,740 shares in the company, valued at approximately $85,315,482.60. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Laura H. Pomerantz sold 2,310 shares of the firm’s stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $24.32, for a total transaction of $56,179.20. Following the completion of the transaction, the director now owns 25,198 shares of the company’s stock, valued at $612,815.36. The disclosure for this sale can be found here. Company insiders own 9.60% of the company’s stock.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

12 Month Chart for NASDAQ:GIII

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