Zacks Investment Research cut shares of G-III Apparel Group (NASDAQ:GIII) from a buy rating to a hold rating in a research note published on Thursday.
According to Zacks, “G-III is a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. G-III’s owned brands include Donna Karan, DKNY, Vilebrequin, G. H. Bass, Andrew Marc, Marc New York, Eliza J and Jessica Howard. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi’s and Dockers brands. Through team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Hands High, Touch by Alyssa Milano. G-III also operates retail stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin, Calvin Klein Performance and Karl Lagerfeld Paris names. “
A number of other equities analysts have also commented on GIII. Piper Jaffray Companies set a $33.00 price objective on G-III Apparel Group and gave the stock a buy rating in a research note on Thursday, November 30th. Cowen set a $32.00 price target on G-III Apparel Group and gave the company a hold rating in a research note on Thursday, November 30th. Telsey Advisory Group boosted their price target on G-III Apparel Group from $36.00 to $39.00 and gave the company an outperform rating in a research note on Wednesday, December 6th. BidaskClub raised G-III Apparel Group from a hold rating to a buy rating in a research note on Thursday, December 7th. Finally, B. Riley reissued a neutral rating and issued a $36.00 price target on shares of G-III Apparel Group in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $35.45.
In other news, Director Bokhorst Willem Van sold 7,518 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $37.51, for a total transaction of $282,000.18. Following the completion of the sale, the director now owns 48,667 shares in the company, valued at $1,825,499.17. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Sammy Aaron sold 51,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $33.62, for a total value of $1,714,620.00. Following the sale, the insider now owns 556,152 shares of the company’s stock, valued at approximately $18,697,830.24. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of G-III Apparel Group by 21.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,523,557 shares of the textile maker’s stock valued at $102,254,000 after acquiring an additional 618,641 shares in the last quarter. Cramer Rosenthal Mcglynn LLC increased its holdings in shares of G-III Apparel Group by 3.1% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,872,837 shares of the textile maker’s stock valued at $54,350,000 after acquiring an additional 56,505 shares in the last quarter. Standard Life Aberdeen plc increased its holdings in shares of G-III Apparel Group by 1.2% during the fourth quarter. Standard Life Aberdeen plc now owns 1,692,049 shares of the textile maker’s stock valued at $62,428,000 after acquiring an additional 20,699 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of G-III Apparel Group by 22.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,245,267 shares of the textile maker’s stock valued at $45,938,000 after acquiring an additional 228,015 shares in the last quarter. Finally, Columbus Circle Investors bought a new stake in shares of G-III Apparel Group during the third quarter valued at approximately $30,233,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.
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G-III Apparel Group 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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