The Vanguard Group, Inc. recently announced the acquisition of new stake in G-III Apparel Group Ltd. (NASDAQ:GIII). The institutional investor has increased its shareholding in the Consumer Cyclical company by 5.60% to 4.5 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 9.36% valued currently at $59.78 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.31 million to 1.64 million shares. And Candlestick Capital Management LP has lifted its position by 287.50% or 1.15 million shares – to 1.55 million shares.
With over 0.65 million G-III Apparel Group Ltd. (GIII) shares trading Tuesday and a closing price of $11.18 on the day, the dollar volume was approximately $7.27 million. The shares have shown a negative weekly performance of -2.78% and its price on 07/28/20 lost nearly -0.89%. Currently, there are 48.03M common shares owned by the public and among those 42.50M shares have been available to trade.
The analysts have set the share’s price value over the next 12 months at a high of $31.00 and a low of $14.00 should the stock experience a downside. Incidentally, analysts’ outlook for the G-III Apparel Group Ltd. stock is 2.50 for the next 12 months. The average price target is 40.31% above its last price level and an upside to the estimated low will see the stock gain 20.14% over that period. But an upside of 63.94% will see the stock hit the forecast high price target while mean target price for the stock is $18.50.
Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,145,829 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 242,325 shares.
The top 3 mutual fund holders in G-III Apparel Group Ltd. are iShares Core S&P Small Cap ETF, DFA US Small Cap Value Portfolio, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 2.66 million shares of the company’s stock, all valued at over $35.36 million. DFA US Small Cap Value Portfolio bought 27800.0 shares to see its total holdings expand to 1.34 million shares valued at over $17.85 million and representing 2.80% of the shares outstanding. Vanguard Total Stock Market Index bought 1860.0 shares to bring its total holdings to over 1.19 million shares at a value of $15.8 million. Vanguard Total Stock Market Index now owns shares totaling to 2.48% of the shares outstanding.
Shares of G-III Apparel Group Ltd. (NASDAQ: GIII) opened at $11.30, up $0.02 from a prior closing price of $11.28. However, the script later closed the day at $11.18, down -0.89%. The company’s stock has a 5-day price change of -2.78% and 0.72% over the past three months. GIII shares are trading -66.63% year to date (YTD), with the 12-month market performance down to -61.54% lower. It has a 12-month low price of $2.96 and touched a high of $34.42 over the same period. Currently, 0.65 million shares have been traded, compared to an average intraday trading volume of 1.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.80%, -10.07%, and -43.55% respectively.
Institutional ownership of G-III Apparel Group Ltd. (NASDAQ: GIII) 48.03M shares outstanding. Mutual fund holders own 41.47%, while other institutional holders and individual stakeholders account for 57.09% and 24.92% respectively.
It has a market capitalization of $570.40M and a beta (3y monthly) value of 2.53. The stock’s trailing 12-month PE ratio is 5.87, while the earnings-per-share (ttm) stands at $1.90. The company has a PEG of 6.18 and a Quick Ratio of 2.70 with the debt-to-equity ratio at 0.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.49% over the week and 7.64% over the month.
Analysts forecast that G-III Apparel Group Ltd. (GIII) will achieve an EPS of -$0.68 for the current quarter, $1.23 for the next quarter and $2.36 for 2022. The lowest estimate earnings-per-share for the quarter is -$1.3 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was $0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 7.10%, and 560.61% over the next financial year. EPS should shrink at an annualized rate of 0.95% over the next five years, compared to 3.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate G-III Apparel Group Ltd. (GIII) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 5 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GIII, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on June 08, 2020, with the firm’s price target at $17. Telsey Advisory Group coverage for the G-III Apparel Group Ltd. (GIII) stock in a research note released on June 05, 2020 offered a Market Perform rating with a price target of $16. Cowen was of a view on March 24, 2020 that the stock is Market Perform, while Telsey Advisory Group gave the stock Market Perform rating on March 20, 2020, issuing a price target of $28- $10. Wells Fargo on their part issued Overweight rating on January 02, 2020.