Swiss National Bank Trims Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Swiss National Bank lowered its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.6% in the second quarter, HoldingsChannel reports. The firm owned 95,900 shares of the textile maker’s stock after selling 3,600 shares during the period. Swiss National Bank’s holdings in G-III Apparel Group were worth $3,151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GIII. First Trust Advisors LP boosted its holdings in G-III Apparel Group by 204.4% in the first quarter. First Trust Advisors LP now owns 61,029 shares of the textile maker’s stock valued at $2,439,000 after purchasing an additional 40,981 shares during the last quarter. Rhumbline Advisers boosted its holdings in G-III Apparel Group by 3.1% in the first quarter. Rhumbline Advisers now owns 157,151 shares of the textile maker’s stock valued at $4,737,000 after purchasing an additional 4,700 shares during the last quarter. The PNC Financial Services Group Inc. lifted its holdings in G-III Apparel Group by 2.7% during the 1st quarter. The PNC Financial Services Group Inc. now owns 16,867 shares of the textile maker’s stock worth $509,000 after buying an additional 442 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in G-III Apparel Group by 76.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 31,820 shares of the textile maker’s stock worth $959,000 after buying an additional 13,758 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in G-III Apparel Group by 6.0% during the 1st quarter. BlackRock Inc. now owns 7,538,410 shares of the textile maker’s stock worth $227,208,000 after buying an additional 427,682 shares during the last quarter. 92.26% of the stock is owned by hedge funds and other institutional investors.

Shares of G-III Apparel Group stock opened at $29.17 on Thursday. The company has a current ratio of 3.01, a quick ratio of 1.98 and a debt-to-equity ratio of 0.37. The business’s 50 day simple moving average is $29.91 and its 200-day simple moving average is $31.33. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.80 and a beta of 3.00. G-III Apparel Group, Ltd. has a twelve month low of $13.01 and a twelve month high of $35.80.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Wednesday, September 1st. The textile maker reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. The business had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $467.04 million. G-III Apparel Group had a return on equity of 9.88% and a net margin of 5.23%. The business’s quarterly revenue was up 62.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.31) EPS. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 3.18 earnings per share for the current year.

A number of research analysts have commented on the company. Barclays increased their target price on G-III Apparel Group from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, June 8th. Zacks Investment Research raised G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Monday, September 6th. B. Riley increased their target price on G-III Apparel Group from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 8th. Finally, Telsey Advisory Group increased their price target on G-III Apparel Group from $33.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, June 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.29.

About G-III Apparel Group

G-III Apparel Group Ltd. engages in designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear; as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.

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

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