Cramer Rosenthal Mcglynn LLC lessened its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 7.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,725,251 shares of the textile maker’s stock after selling 147,586 shares during the period. G-III Apparel Group comprises approximately 1.0% of Cramer Rosenthal Mcglynn LLC’s portfolio, making the stock its 27th largest holding. Cramer Rosenthal Mcglynn LLC’s holdings in G-III Apparel Group were worth $63,645,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in GIII. Columbus Circle Investors bought a new position in shares of G-III Apparel Group during the third quarter valued at approximately $30,233,000. Dimensional Fund Advisors LP raised its holdings in shares of G-III Apparel Group by 21.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,523,557 shares of the textile maker’s stock valued at $102,254,000 after acquiring an additional 618,641 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in G-III Apparel Group by 310.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 474,184 shares of the textile maker’s stock worth $17,493,000 after purchasing an additional 358,585 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in G-III Apparel Group in the third quarter worth $9,732,000. Finally, Victory Capital Management Inc. raised its holdings in G-III Apparel Group by 22.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,245,267 shares of the textile maker’s stock worth $45,938,000 after purchasing an additional 228,015 shares in the last quarter. Institutional investors own 98.31% of the company’s stock.
In other news, Director Bokhorst Willem Van sold 7,518 shares of the firm’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $37.51, for a total transaction of $282,000.18. Following the completion of the transaction, the director now directly owns 48,667 shares in the company, valued at $1,825,499.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Sammy Aaron sold 51,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $33.62, for a total value of $1,714,620.00. Following the transaction, the insider now owns 556,152 shares of the company’s stock, valued at $18,697,830.24. The disclosure for this sale can be found here. 9.70% of the stock is owned by company insiders.
A number of equities analysts have issued reports on the company. BidaskClub downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Piper Jaffray Companies set a $33.00 price objective on G-III Apparel Group and gave the stock a “buy” rating in a report on Thursday, November 30th. B. Riley reiterated a “neutral” rating and issued a $36.00 price objective on shares of G-III Apparel Group in a report on Friday, December 22nd. Zacks Investment Research upgraded G-III Apparel Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Friday. Finally, KeyCorp reiterated a “buy” rating and issued a $45.00 price objective on shares of G-III Apparel Group in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.45.
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G-III Apparel Group 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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