Stoneridge Investment Partners LLC decreased its stake in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 90.7% during the second quarter, Holdings Channel reports. The firm owned 8,890 shares of the textile maker’s stock after selling 86,683 shares during the period. Stoneridge Investment Partners LLC’s holdings in G-III Apparel Group, LTD. were worth $222,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of G-III Apparel Group, LTD. by 19,882.5% in the first quarter. BlackRock Inc. now owns 5,643,064 shares of the textile maker’s stock valued at $123,528,000 after buying an additional 5,614,824 shares during the period. Vanguard Group Inc. boosted its position in shares of G-III Apparel Group, LTD. by 6.6% in the first quarter. Vanguard Group Inc. now owns 3,611,330 shares of the textile maker’s stock valued at $79,052,000 after buying an additional 222,059 shares during the period. Bank of New York Mellon Corp boosted its position in shares of G-III Apparel Group, LTD. by 27.9% in the first quarter. Bank of New York Mellon Corp now owns 3,191,163 shares of the textile maker’s stock valued at $69,853,000 after buying an additional 696,693 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of G-III Apparel Group, LTD. by 30.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,997,215 shares of the textile maker’s stock valued at $43,719,000 after buying an additional 461,131 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of G-III Apparel Group, LTD. by 25.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 1,766,229 shares of the textile maker’s stock valued at $38,662,000 after buying an additional 360,261 shares during the period. Institutional investors own 94.36% of the company’s stock.

Shares of G-III Apparel Group, LTD. (NASDAQ GIII) opened at 26.43 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of 32.31 and a beta of 0.33. The stock has a 50 day moving average price of $24.94 and a 200 day moving average price of $24.13. G-III Apparel Group, LTD. has a 12 month low of $18.00 and a 12 month high of $44.85.

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

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Several research firms have recently weighed in on GIII. BidaskClub raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Piper Jaffray Companies set a $22.00 price objective on G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research raised G-III Apparel Group, LTD. from a “sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research note on Thursday, June 8th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price objective on shares of G-III Apparel Group, LTD. in a research note on Friday, May 26th. Finally, Telsey Advisory Group raised their price objective on G-III Apparel Group, LTD. from $24.00 to $27.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.82.

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

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