PNC Financial Services Group Inc. Purchases 2,826 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

PNC Financial Services Group Inc. increased its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,693 shares of the textile maker’s stock after acquiring an additional 2,826 shares during the quarter. PNC Financial Services Group Inc.’s holdings in G-III Apparel Group were worth $647,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FORA Capital LLC bought a new position in G-III Apparel Group in the 1st quarter worth $31,000. O Shaughnessy Asset Management LLC raised its holdings in G-III Apparel Group by 44.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,477 shares of the textile maker’s stock worth $105,000 after acquiring an additional 1,076 shares during the period. Captrust Financial Advisors raised its holdings in G-III Apparel Group by 5,421.1% in the 1st quarter. Captrust Financial Advisors now owns 4,969 shares of the textile maker’s stock worth $150,000 after acquiring an additional 4,879 shares during the period. Mutual of America Capital Management LLC raised its holdings in G-III Apparel Group by 7.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,812 shares of the textile maker’s stock worth $175,000 after acquiring an additional 411 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in G-III Apparel Group in the 1st quarter worth $189,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of G-III Apparel Group from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a report on Monday, September 6th. Telsey Advisory Group boosted their price objective on shares of G-III Apparel Group from $33.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, June 8th. Barclays boosted their price objective on shares of G-III Apparel Group from $27.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, June 8th. Finally, B. Riley boosted their price objective on shares of G-III Apparel Group from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.29.

In other news, Director Alan Feller sold 10,000 shares of G-III Apparel Group stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $31.85, for a total transaction of $318,500.00. Following the sale, the director now directly owns 25,654 shares in the company, valued at approximately $817,079.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Shares of G-III Apparel Group stock opened at $29.05 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.98 and a current ratio of 3.01. The firm’s 50-day simple moving average is $30.22 and its 200-day simple moving average is $31.41. G-III Apparel Group, Ltd. has a twelve month low of $13.01 and a twelve month high of $35.80. The firm has a market cap of $1.41 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 0.80 and a beta of 3.00.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Wednesday, September 1st. The textile maker reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.29. G-III Apparel Group had a net margin of 5.23% and a return on equity of 9.88%. The business had revenue of $483.10 million for the quarter, compared to analyst estimates of $467.04 million. During the same period in the previous year, the business earned ($0.31) EPS. The firm’s revenue was up 62.6% on a year-over-year basis. On average, equities analysts forecast that G-III Apparel Group, Ltd. will post 3.18 earnings per share for the current fiscal year.

G-III Apparel Group Profile

G-III Apparel Group Ltd. engages in designing, sourcing, and marketing of women’s apparel. The firm’s product range includes outerwear, dresses, sportswear, swimwear, women’s suits and performance wear; as well as handbags, footwear, small leather goods, cold weather accessories, and luggage. It operates through the Wholesale and Retail segments.

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

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