Range Financial Group LLC Lowers Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Range Financial Group LLC reduced its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,747 shares of the textile maker’s stock after selling 540 shares during the period. Range Financial Group LLC’s holdings in G-III Apparel Group were worth $239,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in GIII. Wedge Capital Management L L P NC grew its stake in shares of G-III Apparel Group by 30.0% in the first quarter. Wedge Capital Management L L P NC now owns 46,557 shares of the textile maker’s stock worth $1,273,000 after acquiring an additional 10,755 shares in the last quarter. GAMMA Investing LLC boosted its holdings in G-III Apparel Group by 3,366.6% in the first quarter. GAMMA Investing LLC now owns 23,330 shares of the textile maker’s stock valued at $638,000 after purchasing an additional 22,657 shares during the period. Phocas Financial Corp. grew its stake in G-III Apparel Group by 84.4% during the 4th quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock worth $7,634,000 after purchasing an additional 107,082 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in G-III Apparel Group during the 4th quarter worth $3,970,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in G-III Apparel Group during the 4th quarter worth about $68,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

G-III Apparel Group Stock Performance

Shares of GIII opened at $22.16 on Tuesday. The stock has a 50 day moving average price of $26.03 and a 200 day moving average price of $28.70. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $972.45 million, a price-to-earnings ratio of 5.82 and a beta of 1.48. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $583.61 million for the quarter, compared to analysts’ expectations of $579.48 million. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts predict 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.