Bragg Financial Advisors Inc Grows Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Bragg Financial Advisors Inc grew its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,008 shares of the textile maker’s stock after purchasing an additional 2,192 shares during the quarter. Bragg Financial Advisors Inc’s holdings in G-III Apparel Group were worth $16,800,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its position in G-III Apparel Group by 4.3% during the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock valued at $500,000 after purchasing an additional 631 shares during the period. Vestcor Inc grew its holdings in G-III Apparel Group by 2.1% in the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock valued at $1,043,000 after purchasing an additional 665 shares during the period. Atria Investments Inc increased its holdings in G-III Apparel Group by 9.1% in the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after acquiring an additional 673 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of G-III Apparel Group by 7.8% during the 4th quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker’s stock worth $493,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of G-III Apparel Group by 249.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 1,412 shares in the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Down 0.5 %

Shares of NASDAQ:GIII opened at $24.67 on Friday. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The stock’s 50-day moving average price is $27.04 and its two-hundred day moving average price is $29.91. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 6.48 and a beta of 1.63. The company has a current ratio of 2.63, a quick ratio of 1.75 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The firm had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 EPS. On average, research analysts forecast that G-III Apparel Group, Ltd. will post 4.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on GIII. Barclays lowered their price objective on G-III Apparel Group from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $30.00 price objective on shares of G-III Apparel Group in a report on Friday, April 4th. UBS Group decreased their price target on shares of G-III Apparel Group from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.00.

G-III Apparel Group 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.