G-III Apparel Group, Ltd. (GIII) Shares Bought by Comerica Bank

Comerica Bank raised its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.3% during the first quarter, Holdings Channel reports. The fund owned 78,183 shares of the textile maker’s stock after buying an additional 1,034 shares during the period. Comerica Bank’s holdings in G-III Apparel Group were worth $1,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in shares of G-III Apparel Group by 7.8% in the fourth quarter. FMR LLC now owns 6,842,518 shares of the textile maker’s stock valued at $202,264,000 after buying an additional 494,490 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of G-III Apparel Group 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 valued at $69,853,000 after buying an additional 696,693 shares during the last quarter. WS Management Lllp increased its position in shares of G-III Apparel Group by 198.7% in the fourth quarter. WS Management Lllp now owns 1,792,046 shares of the textile maker’s stock valued at $52,973,000 after buying an additional 1,192,046 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of G-III Apparel Group by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,536,084 shares of the textile maker’s stock valued at $45,408,000 after buying an additional 122,505 shares during the last quarter. Finally, Congress Asset Management Co. MA acquired a new position in shares of G-III Apparel Group during the fourth quarter valued at approximately $39,866,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.

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

G-III Apparel Group, Ltd. (NASDAQ GIII) opened at 25.84 on Friday. The firm’s 50-day moving average price is $22.23 and its 200 day moving average price is $25.42. G-III Apparel Group, Ltd. has a 12-month low of $18.00 and a 12-month high of $51.81. The firm has a market cap of $1.26 billion, a P/E ratio of 23.49 and a beta of 0.53.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.22. G-III Apparel Group had a negative net margin of 3.33% and a negative return on equity of 8.10%. The firm had revenue of $529 million for the quarter, compared to analyst estimates of $497.88 million. During the same quarter last year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Analysts forecast that G-III Apparel Group, Ltd. will post $1.27 earnings per share for the current fiscal year.

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GIII has been the topic of several recent analyst reports. Piper Jaffray Companies set a $22.00 target price on G-III Apparel Group and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research raised G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 target price on shares of G-III Apparel Group in a report on Friday, May 26th. KeyCorp reissued an “overweight” rating and issued a $41.00 target price on shares of G-III Apparel Group in a report on Friday, April 7th. Finally, Telsey Advisory Group boosted their target price on G-III Apparel Group from $24.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.63.

In related news, CEO Morris Goldfarb bought 6,843 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were purchased at an average price of $21.99 per share, for a total transaction of $150,477.57. Following the completion of the transaction, the chief executive officer now directly owns 3,879,740 shares of the company’s stock, valued at approximately $85,315,482.60. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Laura H. Pomerantz sold 2,310 shares of the firm’s stock in a transaction that occurred on Thursday, April 13th. The shares were sold at an average price of $24.32, for a total transaction of $56,179.20. Following the completion of the sale, the director now owns 25,198 shares in the company, valued at approximately $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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:GIII”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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