Oppenheimer Asset Management Inc. Decreases Position in G-III Apparel Group, LTD. (GIII)

Oppenheimer Asset Management Inc. lowered its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 75.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,095 shares of the textile maker’s stock after selling 27,712 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in G-III Apparel Group, LTD. were worth $227,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in G-III Apparel Group, LTD. by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the textile maker’s stock valued at $390,000 after buying an additional 200 shares in the last quarter. Renaissance Technologies LLC boosted its stake in G-III Apparel Group, LTD. by 1,030.1% during the first quarter. Renaissance Technologies LLC now owns 357,100 shares of the textile maker’s stock valued at $7,817,000 after buying an additional 325,500 shares in the last quarter. US Bancorp DE boosted its stake in G-III Apparel Group, LTD. by 4.3% during the second quarter. US Bancorp DE now owns 91,062 shares of the textile maker’s stock valued at $2,272,000 after buying an additional 3,732 shares in the last quarter. Texas Permanent School Fund boosted its stake in G-III Apparel Group, LTD. by 0.9% during the second quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock valued at $798,000 after buying an additional 275 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in G-III Apparel Group, LTD. by 47,307.2% during the second quarter. Sei Investments Co. now owns 52,622 shares of the textile maker’s stock valued at $1,312,000 after buying an additional 52,511 shares in the last quarter. 99.38% of the stock is owned by institutional investors and hedge funds.

In other G-III Apparel Group, LTD. news, COO Wayne S. Miller sold 50,000 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $29.56, for a total value of $1,478,000.00. Following the completion of the transaction, the chief operating officer now directly owns 269,531 shares of the company’s stock, valued at $7,967,336.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by insiders.

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Shares of G-III Apparel Group, LTD. (NASDAQ:GIII) opened at 28.17 on Thursday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 42.81 and a beta of 0.26. G-III Apparel Group, LTD. has a 12 month low of $18.00 and a 12 month high of $32.98. The firm’s 50-day moving average price is $27.11 and its 200-day moving average price is $24.34.

G-III Apparel Group, LTD. (NASDAQ:GIII) last posted its earnings results on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. G-III Apparel Group, LTD. had a return on equity of 4.65% and a net margin of 1.23%. The firm had revenue of $538.00 million during the quarter, compared to analysts’ expectations of $522.45 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The company’s revenue was up 21.6% on a year-over-year basis. On average, equities analysts anticipate that G-III Apparel Group, LTD. will post $1.35 earnings per share for the current year.

Several brokerages recently weighed in on GIII. Piper Jaffray Companies set a $22.00 target price on G-III Apparel Group, LTD. and gave the company a “hold” rating in a research note on Tuesday, June 6th. Telsey Advisory Group increased their price target on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, June 7th. BidaskClub upgraded G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Wunderlich reiterated a “buy” rating and issued a $33.00 price target on shares of G-III Apparel Group, LTD. in a research report on Tuesday, June 6th. Finally, Buckingham Research reiterated a “buy” rating and issued a $28.00 price target on shares of G-III Apparel Group, LTD. in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.42.

G-III Apparel Group, LTD. Company Profile

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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Institutional Ownership by Quarter for G-III Apparel Group, LTD. (NASDAQ:GIII)

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