Raymond James Financial Inc. Invests $5.43 Million in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Raymond James Financial Inc. acquired a new stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 4th quarter, Holdings Channel.com reports. The firm acquired 166,392 shares of the textile maker’s stock, valued at approximately $5,428,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP acquired a new position in G-III Apparel Group in the 3rd quarter valued at about $63,000. Smartleaf Asset Management LLC boosted its stake in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 1,412 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after purchasing an additional 1,460 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of G-III Apparel Group in the third quarter valued at approximately $152,000. Finally, Point72 DIFC Ltd increased its stake in G-III Apparel Group by 103.2% during the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock worth $178,000 after buying an additional 2,957 shares during the period. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GIII. Guggenheim raised their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Telsey Advisory Group lowered their target price on G-III Apparel Group from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 14th. KeyCorp increased their price target on G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Barclays decreased their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. Finally, StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus target price of $33.00.

G-III Apparel Group Stock Up 5.3 %

G-III Apparel Group stock opened at $27.58 on Tuesday. The stock has a market cap of $1.21 billion, a PE ratio of 7.24 and a beta of 2.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. The stock’s fifty day moving average is $28.83 and its two-hundred day moving average is $30.51. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million for the quarter, compared to analyst estimates of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.76 EPS. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

About G-III Apparel Group

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.