Congress Asset Management Co. MA Has $871,000 Stake in G-III Apparel Group, LTD. (NASDAQ:GIII)

Congress Asset Management Co. MA reduced its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 97.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,901 shares of the textile maker’s stock after selling 1,601,913 shares during the period. Congress Asset Management Co. MA owned 0.07% of G-III Apparel Group, LTD. worth $871,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in G-III Apparel Group, LTD. by 97.1% in the first quarter. Wells Fargo & Company MN now owns 857,418 shares of the textile maker’s stock worth $18,768,000 after buying an additional 422,320 shares in the last quarter. Louisiana State Employees Retirement System increased its position in G-III Apparel Group, LTD. by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 17,800 shares of the textile maker’s stock worth $390,000 after buying an additional 200 shares in the last quarter. Renaissance Technologies LLC increased its position in G-III Apparel Group, LTD. by 1,030.1% in 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 during the period. US Bancorp DE increased its position in G-III Apparel Group, LTD. by 19.6% in the first quarter. US Bancorp DE now owns 87,330 shares of the textile maker’s stock valued at $1,912,000 after buying an additional 14,286 shares during the period. Finally, Arizona State Retirement System increased its position in G-III Apparel Group, LTD. by 0.9% in the first quarter. Arizona State Retirement System now owns 22,775 shares of the textile maker’s stock valued at $499,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

G-III Apparel Group, LTD. (GIII) opened at 23.94 on Friday. The firm has a 50-day moving average of $24.86 and a 200 day moving average of $24.06. G-III Apparel Group, LTD. has a one year low of $18.00 and a one year high of $44.85. The stock has a market capitalization of $1.16 billion, a PE ratio of 29.27 and a beta of 0.33.

G-III Apparel Group, LTD. (NASDAQ:GIII) last released its quarterly earnings data on Tuesday, June 6th. The textile maker reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.22. The business had revenue of $529 million for the quarter, compared to analyst estimates of $497.88 million. G-III Apparel Group, LTD. had a return on equity of 5.57% and a net margin of 1.58%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 EPS. On average, equities research analysts anticipate that G-III Apparel Group, LTD. will post $1.26 earnings per share for the current fiscal year.

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Several research analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price target on shares of G-III Apparel Group, LTD. in a report on Friday, May 26th. Wunderlich restated a “buy” rating and set a $33.00 price objective on shares of G-III Apparel Group, LTD. in a research report on Tuesday, June 6th. Telsey Advisory Group lifted their target price on shares of G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 7th. Cowen and Company lifted their target price on shares of G-III Apparel Group, LTD. from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 7th. Finally, Piper Jaffray Companies set a $22.00 target price on shares of G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. G-III Apparel Group, LTD. presently has a consensus rating of “Hold” and a consensus price target of $29.82.

About G-III Apparel Group, LTD.

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.

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

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