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

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Invesco Ltd. lessened its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,353,658 shares of the textile maker’s stock after selling 133,052 shares during the period. Invesco Ltd. owned 4.90% of G-III Apparel Group worth $18,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GIII. Scopus Asset Management L.P. acquired a new position in G-III Apparel Group in the fourth quarter valued at $22,613,000. Norges Bank acquired a new position in G-III Apparel Group in the fourth quarter valued at $13,947,000. Nuveen Asset Management LLC boosted its stake in G-III Apparel Group by 33.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,585,952 shares of the textile maker’s stock valued at $53,130,000 after acquiring an additional 397,210 shares in the last quarter. Morgan Stanley boosted its stake in G-III Apparel Group by 136.4% in the first quarter. Morgan Stanley now owns 582,838 shares of the textile maker’s stock valued at $4,488,000 after acquiring an additional 336,298 shares in the last quarter. Finally, State Street Corp boosted its stake in G-III Apparel Group by 23.5% in the first quarter. State Street Corp now owns 1,636,723 shares of the textile maker’s stock valued at $12,603,000 after acquiring an additional 311,371 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

In related news, CEO Morris Goldfarb bought 30,749 shares of the company’s stock in a transaction on Friday, April 3rd. The stock was bought at an average cost of $7.43 per share, with a total value of $228,465.07. Following the completion of the acquisition, the chief executive officer now owns 3,236,875 shares in the company, valued at approximately $24,049,981.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.50% of the stock is owned by company insiders.

Shares of NASDAQ:GIII opened at $13.28 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 3.97 and a debt-to-equity ratio of 0.91. The company has a market cap of $638.14 million, a P/E ratio of 5.98, a PEG ratio of 15.94 and a beta of 2.48. G-III Apparel Group, Ltd. has a 52 week low of $2.96 and a 52 week high of $34.42. The company has a 50-day moving average price of $12.26 and a 200 day moving average price of $18.79.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, June 4th. The textile maker reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.08). The firm had revenue of $405.13 million during the quarter, compared to analyst estimates of $407.84 million. G-III Apparel Group had a net margin of 3.15% and a return on equity of 8.68%. G-III Apparel Group’s revenue for the quarter was down 36.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. Analysts expect that G-III Apparel Group, Ltd. will post 0.09 EPS for the current year.

Several brokerages have recently weighed in on GIII. BidaskClub downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Zacks Investment Research downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a research note on Friday, May 29th. KeyCorp decreased their target price on shares of G-III Apparel Group from $40.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. ValuEngine downgraded shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, B. Riley reiterated a “buy” rating and set a $31.00 target price on shares of G-III Apparel Group in a research note on Friday, June 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $18.08.

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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