Zacks Investment Research upgraded shares of G-III Apparel Group (NASDAQ:GIII) from a hold rating to a buy rating in a research report report published on Friday. They currently have $40.00 price target on the textile maker’s stock.
According to Zacks, “G-III is a leading manufacturer and distributor of apparel and accessories under licensed brands, owned brands and private label brands. G-III’s owned brands include Donna Karan, DKNY, Vilebrequin, G. H. Bass, Andrew Marc, Marc New York, Eliza J and Jessica Howard. G-III has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole, Cole Haan, Guess?, Vince Camuto, Ivanka Trump, Kensie, Jessica Simpson, Levi’s and Dockers brands. Through team sports business, G-III has licenses with the National Football League, National Basketball Association, Major League Baseball, National Hockey League, Hands High, Touch by Alyssa Milano. G-III also operates retail stores under the DKNY, Wilsons Leather, G. H. Bass, Vilebrequin, Calvin Klein Performance and Karl Lagerfeld Paris names. “
GIII has been the topic of several other reports. KeyCorp restated a buy rating and issued a $45.00 price objective on shares of G-III Apparel Group in a report on Thursday, January 11th. Piper Jaffray Companies set a $33.00 price objective on shares of G-III Apparel Group and gave the stock a buy rating in a report on Thursday, November 30th. Cowen set a $32.00 price objective on shares of G-III Apparel Group and gave the stock a hold rating in a report on Thursday, November 30th. BidaskClub lowered shares of G-III Apparel Group from a buy rating to a hold rating in a report on Thursday, January 25th. Finally, Barclays upped their price objective on shares of G-III Apparel Group from $29.00 to $33.00 and gave the stock an underweight rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $35.45.
In related news, Vice Chairman Sammy Aaron sold 51,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $33.62, for a total transaction of $1,714,620.00. Following the sale, the insider now directly owns 556,152 shares of the company’s stock, valued at approximately $18,697,830.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bokhorst Willem Van sold 7,518 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 48,667 shares in the company, valued at $1,825,499.17. The disclosure for this sale can be found here. 9.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Elkfork Partners LLC purchased a new stake in G-III Apparel Group during the 4th quarter worth approximately $156,000. Envestnet Asset Management Inc. increased its stake in G-III Apparel Group by 16.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,599 shares of the textile maker’s stock worth $465,000 after buying an additional 1,736 shares during the period. MetLife Investment Advisors LLC purchased a new stake in G-III Apparel Group during the 4th quarter worth approximately $776,000. Municipal Employees Retirement System of Michigan increased its position in shares of G-III Apparel Group by 67.1% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 26,010 shares of the textile maker’s stock valued at $959,000 after purchasing an additional 10,440 shares during the last quarter. Finally, Macquarie Group Ltd. increased its position in shares of G-III Apparel Group by 41.8% in the 4th quarter. Macquarie Group Ltd. now owns 178,756 shares of the textile maker’s stock valued at $6,594,000 after purchasing an additional 52,694 shares during the last quarter. 98.31% of the stock is currently owned by hedge funds and other institutional investors.
G-III Apparel Group Company 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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