Profit Investment Management LLC increased its position in G-III Apparel Group, LTD. (NASDAQ:GIII) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,915 shares of the textile maker’s stock after buying an additional 7,399 shares during the period. G-III Apparel Group, LTD. comprises 2.1% of Profit Investment Management LLC’s portfolio, making the stock its 10th largest position. Profit Investment Management LLC owned 0.19% of G-III Apparel Group, LTD. worth $2,293,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of G-III Apparel Group, LTD. by 19,882.5% in the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock worth $123,528,000 after buying an additional 5,614,824 shares during the period. Vanguard Group Inc. boosted its position in shares of G-III Apparel Group, LTD. by 6.6% in the first quarter. Vanguard Group Inc. now owns 3,611,330 shares of the textile maker’s stock worth $79,052,000 after buying an additional 222,059 shares during the period. Bank of New York Mellon Corp boosted its position in shares of G-III Apparel Group, LTD. by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 3,191,163 shares of the textile maker’s stock worth $69,853,000 after buying an additional 696,693 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of G-III Apparel Group, LTD. by 30.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,997,215 shares of the textile maker’s stock worth $43,719,000 after buying an additional 461,131 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of G-III Apparel Group, LTD. by 25.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,766,229 shares of the textile maker’s stock worth $38,662,000 after buying an additional 360,261 shares during the period. 99.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of G-III Apparel Group, LTD. (GIII) opened at 26.93 on Friday. G-III Apparel Group, LTD. has a 52-week low of $18.00 and a 52-week high of $44.85. The company’s 50 day moving average price is $24.61 and its 200 day moving average price is $24.09. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 32.92 and a beta of 0.33.
G-III Apparel Group, LTD. (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, June 6th. The textile maker reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.22. The company had revenue of $529 million for the quarter, compared to the consensus estimate of $497.88 million. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. G-III Apparel Group, LTD.’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. On average, analysts predict that G-III Apparel Group, LTD. will post $1.26 EPS for the current year.
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A number of equities analysts have commented on GIII shares. BidaskClub raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Piper Jaffray Companies set a $22.00 price target on G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research note on Thursday, June 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price target on shares of G-III Apparel Group, LTD. in a research note on Friday, May 26th. Finally, Telsey Advisory Group boosted their target price on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the company a “market perform” rating in a research note on Wednesday, June 7th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. G-III Apparel Group, LTD. has an average rating of “Buy” and an average price target of $29.82.
G-III Apparel Group, LTD. Company Profile
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.
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