Russell Investments Group Ltd. Buys 16,747 Shares of G-III Apparel Group, LTD. $GIII

Russell Investments Group Ltd. increased its position in G-III Apparel Group, LTD. (NASDAQ:GIII) by 10.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,591 shares of the textile maker’s stock after purchasing an additional 16,747 shares during the period. Russell Investments Group Ltd. owned approximately 0.41% of G-III Apparel Group worth $3,978,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GIII. Zions Bancorporation National Association UT bought a new position in shares of G-III Apparel Group in the first quarter worth approximately $1,617,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in G-III Apparel Group in the 1st quarter worth approximately $467,000. Nuveen LLC bought a new position in G-III Apparel Group in the 1st quarter valued at approximately $11,614,000. Public Sector Pension Investment Board boosted its stake in G-III Apparel Group by 27.3% during the 1st quarter. Public Sector Pension Investment Board now owns 122,497 shares of the textile maker’s stock valued at $3,350,000 after purchasing an additional 26,291 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of G-III Apparel Group by 5,154.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,156 shares of the textile maker’s stock worth $32,000 after purchasing an additional 1,134 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GIII has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of G-III Apparel Group in a research note on Tuesday, October 14th. Zacks Research raised G-III Apparel Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. UBS Group reaffirmed a “neutral” rating and set a $28.00 price target (up previously from $26.00) on shares of G-III Apparel Group in a report on Thursday. BTIG Research initiated coverage on shares of G-III Apparel Group in a report on Tuesday, October 14th. They set a “buy” rating and a $32.00 price objective for the company. Finally, Telsey Advisory Group restated a “market perform” rating and set a $30.00 price objective on shares of G-III Apparel Group in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.33.

G-III Apparel Group Stock Up 3.2%

Shares of NASDAQ:GIII opened at $30.38 on Friday. The stock has a market capitalization of $1.28 billion, a PE ratio of 7.52 and a beta of 1.30. The firm’s 50 day moving average price is $27.78 and its 200-day moving average price is $26.00. G-III Apparel Group, LTD. has a twelve month low of $20.33 and a twelve month high of $36.18.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, September 4th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.15. G-III Apparel Group had a net margin of 5.84% and a return on equity of 11.53%. The company had revenue of $613.27 million during the quarter, compared to analyst estimates of $568.67 million. During the same period in the previous year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Analysts expect that G-III Apparel Group, LTD. will post 4.16 earnings per share 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.