G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Range Financial Group LLC

Range Financial Group LLC trimmed its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 8,747 shares of the textile maker’s stock after selling 540 shares during the quarter. Range Financial Group LLC’s holdings in G-III Apparel Group were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GIII. AlphaQuest LLC acquired a new position in G-III Apparel Group in the 4th quarter valued at about $49,000. Smartleaf Asset Management LLC increased its holdings 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. Public Employees Retirement System of Ohio acquired a new position in shares of G-III Apparel Group in the fourth quarter valued at approximately $68,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of G-III Apparel Group by 18.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock worth $117,000 after purchasing an additional 564 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of G-III Apparel Group during the fourth quarter worth $172,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GIII shares. Wall Street Zen raised shares of G-III Apparel Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 31st. Barclays lowered their target price on shares of G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday. UBS Group cut their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Monday. Telsey Advisory Group reduced their price objective on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating for the company in a research report on Monday. Finally, KeyCorp dropped their target price on G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.80.

G-III Apparel Group Price Performance

Shares of NASDAQ GIII opened at $22.16 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The firm has a market capitalization of $972.45 million, a P/E ratio of 5.82 and a beta of 1.48. The company’s fifty day moving average is $26.03 and its two-hundred day moving average is $28.70.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. G-III Apparel Group had a net margin of 5.59% and a return on equity of 11.66%. The firm had revenue of $583.61 million during the quarter, compared to analysts’ expectations of $579.48 million. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts forecast 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.