Thrivent Financial for Lutherans lowered its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 94.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,073 shares of the textile maker’s stock after selling 567,990 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of G-III Apparel Group worth $278,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in G-III Apparel Group by 47.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,501 shares of the textile maker’s stock worth $27,000 after acquiring an additional 1,124 shares in the last quarter. Nvwm LLC bought a new stake in G-III Apparel Group in the first quarter worth $35,000. Acadian Asset Management LLC acquired a new position in G-III Apparel Group during the first quarter worth $43,000. Oppenheimer Asset Management Inc. lifted its position in shares of G-III Apparel Group by 15.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,723 shares of the textile maker’s stock worth $67,000 after buying an additional 1,175 shares during the last quarter. Finally, First Hawaiian Bank boosted its stake in shares of G-III Apparel Group by 38.1% during the 1st quarter. First Hawaiian Bank now owns 11,490 shares of the textile maker’s stock worth $88,000 after acquiring an additional 3,170 shares in the last quarter. 96.09% of the stock is currently owned by institutional investors.
Shares of GIII opened at $13.28 on Wednesday. The stock’s 50-day moving average price is $12.26 and its 200 day moving average price is $18.79. The company has a quick ratio of 2.74, a current ratio of 3.97 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $638.14 million, a price-to-earnings ratio of 5.98, a P/E/G ratio of 15.94 and a beta of 2.48. G-III Apparel Group, Ltd. has a 12-month low of $2.96 and a 12-month high of $34.42.
A number of research analysts recently weighed in on GIII shares. Needham & Company LLC started coverage on G-III Apparel Group in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 price objective on the stock. KeyCorp reduced their price objective on shares of G-III Apparel Group from $40.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. Piper Sandler lowered their target price on shares of G-III Apparel Group from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. BidaskClub lowered shares of G-III Apparel Group from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd. Finally, Zacks Investment Research downgraded G-III Apparel Group from a “hold” rating to a “sell” rating and set a $12.00 price target on the stock. in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.08.
In other G-III Apparel Group news, CEO Morris Goldfarb bought 30,749 shares of the firm’s stock in a transaction dated Friday, April 3rd. The shares were acquired at an average cost of $7.43 per share, for a total transaction of $228,465.07. Following the transaction, the chief executive officer now owns 3,236,875 shares in the company, valued at $24,049,981.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is owned by insiders.
G-III Apparel Group Company Profile
G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates in 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.
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