Madison Avenue Partners LP Trims Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Madison Avenue Partners LP lessened its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 58.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,323,110 shares of the textile maker’s stock after selling 1,865,887 shares during the period. G-III Apparel Group makes up 6.3% of Madison Avenue Partners LP’s portfolio, making the stock its 6th biggest position. Madison Avenue Partners LP owned approximately 2.89% of G-III Apparel Group worth $44,959,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of G-III Apparel Group by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock valued at $117,180,000 after purchasing an additional 92,673 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of G-III Apparel Group by 155.7% during the 4th quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock valued at $123,019,000 after purchasing an additional 2,204,572 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of G-III Apparel Group by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,777,980 shares of the textile maker’s stock valued at $94,396,000 after purchasing an additional 145,232 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of G-III Apparel Group by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after purchasing an additional 60,669 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of G-III Apparel Group by 0.7% during the 4th quarter. LSV Asset Management now owns 874,483 shares of the textile maker’s stock valued at $29,715,000 after purchasing an additional 5,700 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Up 0.6 %

Shares of NASDAQ:GIII traded up $0.15 during trading on Friday, hitting $26.45. 161,186 shares of the company were exchanged, compared to its average volume of 583,380. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 6.95 and a beta of 2.26. G-III Apparel Group, Ltd. has a fifty-two week low of $18.47 and a fifty-two week high of $35.68. The firm has a fifty day moving average price of $28.21 and a two-hundred day moving average price of $29.99. The company has a current ratio of 3.79, a quick ratio of 2.62 and a debt-to-equity ratio of 0.26.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings results on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.17. The firm had revenue of $609.75 million for the quarter, compared to analyst estimates of $615.10 million. G-III Apparel Group had a return on equity of 12.75% and a net margin of 5.76%. As a group, research analysts anticipate that G-III Apparel Group, Ltd. will post 3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GIII has been the topic of a number of recent research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Monday, June 3rd. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Wells Fargo & Company dropped their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. UBS Group dropped their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.60.

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 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.