Larson Financial Group LLC Sells 4,336 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Larson Financial Group LLC lowered its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,652 shares of the textile maker’s stock after selling 4,336 shares during the quarter. Larson Financial Group LLC’s holdings in G-III Apparel Group were worth $222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in G-III Apparel Group by 7.2% in the third quarter. AQR Capital Management LLC now owns 180,887 shares of the textile maker’s stock valued at $4,508,000 after buying an additional 12,102 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of G-III Apparel Group by 39.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock worth $16,585,000 after acquiring an additional 189,239 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of G-III Apparel Group in the third quarter worth about $2,280,000. American Century Companies Inc. grew its holdings in shares of G-III Apparel Group by 38.1% during the third quarter. American Century Companies Inc. now owns 262,165 shares of the textile maker’s stock worth $6,533,000 after buying an additional 72,333 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of G-III Apparel Group by 2.0% during the third quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock worth $117,180,000 after buying an additional 92,673 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GIII. Wells Fargo & Company decreased their price objective on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 15th. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. UBS Group decreased their price target on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research note on Monday, June 3rd. Finally, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.60.

G-III Apparel Group Price Performance

G-III Apparel Group stock traded up $1.02 during mid-day trading on Thursday, reaching $27.16. 154,909 shares of the company were exchanged, compared to its average volume of 622,726. G-III Apparel Group, Ltd. has a 12 month low of $18.47 and a 12 month high of $35.68. The company has a fifty day simple moving average of $27.80 and a 200-day simple moving average of $29.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.79 and a quick ratio of 2.62. The firm has a market cap of $1.22 billion, a PE ratio of 6.84 and a beta of 2.24.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, June 6th. The textile maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. The business 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, equities research analysts expect that G-III Apparel Group, Ltd. will post 3.63 earnings per share for the current fiscal year.

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.