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 2.07% to 4.6 million shares with purchase of 93114.0 shares. This fresh investment now brings its stake to 10.06% valued currently at $132.3 million. In addition, Pacer Advisors, Inc. raised its holdings by 1.42 million to 1.42 million shares. And RBC Global Asset Management has lifted its position by 7.11% or 91090.0 shares – to 1.37 million shares.
With over 0.46 million G-III Apparel Group Ltd. (GIII) shares trading Friday and a closing price of $33.56 on the day, the dollar volume was approximately $15.4 million. The shares have shown a positive half year performance of 74.07% and its price on 12/22/23 lost nearly -0.44%. Currently, there are 46.72M common shares owned by the public and among those 39.89M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for GIII have a consensus price objective of $30.17. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $29.00. The average price target is -11.24% below its recent price level and a downside to the estimated low will see the stock lose -15.72% over that period. But a downside of -4.88% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 323,786 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 662,444 shares.
The top 3 mutual fund holders in G-III Apparel Group Ltd. are iShares Core S&P Small Cap ETF, Pacer Fds. Tr. – US Small Cap Cas, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 2.72 million shares of the company’s stock, all valued at over $78.14 million. The company bought an additional 1494.0 shares recently to bring their total holdings to about 5.94% of the shares outstanding. Pacer Fds. Tr. – US Small Cap Cas bought 24476.0 shares to see its total holdings expand to 2.05 million shares valued at over $58.93 million and representing 4.48% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.82% of the shares outstanding.
Shares of G-III Apparel Group Ltd. (NASDAQ: GIII) opened at $33.29, down -$0.42 from a prior closing price of $33.71. However, the script later moved the day high at 33.87, down -0.44%. The company’s stock has a 5-day price change of -5.22% and 39.37% over the past three months. GIII shares are trading 144.78% year to date (YTD), with the 12-month market performance up to 155.21% higher. It has a 12-month low price of $12.73 and touched a high of $35.68 over the same period. GIII has an average intraday trading volume of 598.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.74%, 19.08%, and 57.16% respectively.
Institutional ownership of G-III Apparel Group Ltd. (NASDAQ: GIII) shares accounts for 96.04% of the company’s 46.72M shares outstanding. Mutual fund holders own 40.92%, while other institutional holders and individual stakeholders account for 55.42% and 26.13% respectively.
It has a market capitalization of $1.53B and a beta (3y monthly) value of 2.47. The earnings-per-share (ttm) stands at -$2.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.32% over the week and 4.16% over the month.
Analysts forecast that G-III Apparel Group Ltd. (GIII) will achieve an EPS of $0.66 for the current quarter, $0.09 for the next quarter and $3.98 for 2025. The lowest estimate earnings-per-share for the quarter is $0.56 while analysts give the company a high EPS estimate of $0.72. Comparatively, EPS for the current quarter was $0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 38.74%, and 0.54% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate G-III Apparel Group Ltd. (GIII) as a “Moderate Buy” at a consensus score of 2.67. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 5 of the 6 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. Telsey Advisory Group stated their Market Perform rating for the stock in a research note on December 02, 2022, with the firm’s price target at $22-$14.
