OLD National Bancorp IN Takes Position in G-III Apparel Group, Ltd. (GIII)

OLD National Bancorp IN bought a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,336 shares of the textile maker’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. boosted its stake in shares of G-III Apparel Group by 1,396.0% during the 4th quarter. Meeder Asset Management Inc. now owns 1,511 shares of the textile maker’s stock worth $41,000 after acquiring an additional 1,410 shares during the period. Csenge Advisory Group bought a new position in shares of G-III Apparel Group during the 3rd quarter worth approximately $93,000. Huntington National Bank boosted its stake in shares of G-III Apparel Group by 170.8% during the 4th quarter. Huntington National Bank now owns 2,445 shares of the textile maker’s stock worth $68,000 after acquiring an additional 1,542 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of G-III Apparel Group by 19.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,795 shares of the textile maker’s stock worth $78,000 after acquiring an additional 461 shares during the period. Finally, Group One Trading L.P. boosted its stake in shares of G-III Apparel Group by 118.7% during the 3rd quarter. Group One Trading L.P. now owns 3,103 shares of the textile maker’s stock worth $150,000 after acquiring an additional 1,684 shares during the period.

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Several brokerages have recently commented on GIII. BidaskClub downgraded G-III Apparel Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 19th. Buckingham Research reduced their price target on G-III Apparel Group from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, October 17th. KeyCorp restated a “buy” rating on shares of G-III Apparel Group in a research note on Sunday, December 9th. B. Riley upgraded G-III Apparel Group from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, October 18th. Finally, Zacks Investment Research downgraded G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $45.91.

GIII opened at $34.56 on Friday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 13.40, a PEG ratio of 0.74 and a beta of 0.94. G-III Apparel Group, Ltd. has a 1 year low of $25.43 and a 1 year high of $51.20. The company has a quick ratio of 1.55, a current ratio of 2.54 and a debt-to-equity ratio of 0.59.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, December 6th. The textile maker reported $1.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. G-III Apparel Group had a return on equity of 11.60% and a net margin of 3.75%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, research analysts expect that G-III Apparel Group, Ltd. will post 2.75 EPS for the current fiscal year.

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G-III Apparel Group Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in 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.

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

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