Axa S.A. reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII – Get Rating) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,850 shares of the textile maker’s stock after selling 1,100 shares during the period. Axa S.A. owned 0.09% of G-III Apparel Group worth $670,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in GIII. Raymond James & Associates acquired a new position in shares of G-III Apparel Group during the 1st quarter worth approximately $2,199,000. HighTower Advisors LLC acquired a new position in shares of G-III Apparel Group during the 1st quarter worth approximately $712,000. Citigroup Inc. lifted its holdings in G-III Apparel Group by 4.6% in the first quarter. Citigroup Inc. now owns 43,549 shares of the textile maker’s stock valued at $1,178,000 after acquiring an additional 1,930 shares during the last quarter. Natixis Advisors L.P. acquired a new position in G-III Apparel Group in the first quarter valued at approximately $298,000. Finally, MetLife Investment Management LLC lifted its holdings in G-III Apparel Group by 55.1% in the first quarter. MetLife Investment Management LLC now owns 24,443 shares of the textile maker’s stock valued at $661,000 after acquiring an additional 8,687 shares during the last quarter. 88.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on GIII. Barclays decreased their price objective on G-III Apparel Group from $18.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 6th. KeyCorp reiterated an “overweight” rating and issued a $18.00 price objective (up from $17.00) on shares of G-III Apparel Group in a report on Monday, January 30th. StockNews.com cut G-III Apparel Group from a “hold” rating to a “sell” rating in a report on Thursday, December 1st. CL King lowered G-III Apparel Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $28.00 to $22.00 in a research report on Thursday, December 1st. Finally, Telsey Advisory Group cut their target price on G-III Apparel Group from $22.00 to $14.00 and set a “market perform” rating on the stock in a research report on Friday, December 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.13.
G-III Apparel Group Stock Up 1.4 %
G-III Apparel Group (NASDAQ:GIII – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The textile maker reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.50). G-III Apparel Group had a return on equity of 10.70% and a net margin of 5.66%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. As a group, equities analysts expect that G-III Apparel Group, Ltd. will post 2.93 earnings per share for the current fiscal year.
Insider Transactions at G-III Apparel Group
In other G-III Apparel Group news, CEO Morris Goldfarb bought 250,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were purchased at an average price of $12.54 per share, with a total value of $3,135,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,094,964 shares of the company’s stock, valued at approximately $26,270,848.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other G-III Apparel Group news, CEO Morris Goldfarb bought 250,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were purchased at an average price of $12.54 per share, with a total value of $3,135,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,094,964 shares of the company’s stock, valued at approximately $26,270,848.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey David Goldfarb bought 19,000 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average cost of $12.96 per share, for a total transaction of $246,240.00. Following the acquisition, the executive vice president now directly owns 491,631 shares of the company’s stock, valued at $6,371,537.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 279,270 shares of company stock valued at $3,506,534. 9.60% of the stock is currently owned by company insiders.
About G-III Apparel Group
G-III Apparel Group Ltd. engages in the 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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