Palisade Capital Management LLC NJ Has $22.32 Million Position in G-III Apparel Group (GIII)

Palisade Capital Management LLC NJ boosted its stake in G-III Apparel Group (NASDAQ:GIII) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592,441 shares of the textile maker’s stock after purchasing an additional 16,933 shares during the quarter. Palisade Capital Management LLC NJ owned about 1.21% of G-III Apparel Group worth $22,323,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in G-III Apparel Group by 1.5% in the first quarter. BlackRock Inc. now owns 5,430,934 shares of the textile maker’s stock worth $204,635,000 after purchasing an additional 79,210 shares during the period. Northern Trust Corp grew its holdings in G-III Apparel Group by 1.7% in the first quarter. Northern Trust Corp now owns 572,618 shares of the textile maker’s stock worth $21,577,000 after purchasing an additional 9,315 shares during the period. Columbus Circle Investors grew its holdings in G-III Apparel Group by 11.3% in the first quarter. Columbus Circle Investors now owns 1,701,637 shares of the textile maker’s stock worth $64,118,000 after purchasing an additional 172,747 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in G-III Apparel Group by 5.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 197,000 shares of the textile maker’s stock worth $7,423,000 after purchasing an additional 10,000 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in G-III Apparel Group by 1.1% in the first quarter. Thrivent Financial for Lutherans now owns 410,371 shares of the textile maker’s stock worth $15,462,000 after purchasing an additional 4,462 shares during the period. Institutional investors and hedge funds own 99.50% of the company’s stock.

In other news, Director Laura H. Pomerantz sold 1,191 shares of G-III Apparel Group stock in a transaction dated Friday, April 13th. The shares were sold at an average price of $38.91, for a total transaction of $46,341.81. Following the completion of the transaction, the director now directly owns 32,766 shares in the company, valued at $1,274,925.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Wayne S. Miller sold 28,000 shares of G-III Apparel Group stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $38.56, for a total transaction of $1,079,680.00. Following the transaction, the chief operating officer now owns 203,381 shares of the company’s stock, valued at $7,842,371.36. The disclosure for this sale can be found here. 9.80% of the stock is owned by company insiders.

GIII has been the subject of a number of research reports. Zacks Investment Research cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Thursday, March 8th. BidaskClub upgraded shares of G-III Apparel Group from a “sell” rating to a “hold” rating in a report on Friday, March 23rd. B. Riley set a $38.00 price target on shares of G-III Apparel Group and gave the stock a “hold” rating in a report on Friday, March 23rd. Piper Jaffray Companies restated a “buy” rating on shares of G-III Apparel Group in a report on Thursday, February 1st. Finally, ValuEngine upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, April 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $37.25.

Shares of NASDAQ GIII opened at $38.80 on Monday. The stock has a market cap of $1.91 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.27 and a beta of 0.22. G-III Apparel Group has a 1 year low of $18.00 and a 1 year high of $40.96. The company has a quick ratio of 1.17, a current ratio of 2.76 and a debt-to-equity ratio of 0.35.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings data on Thursday, March 22nd. The textile maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $714.90 million during the quarter, compared to analysts’ expectations of $707.64 million. G-III Apparel Group had a net margin of 2.21% and a return on equity of 7.44%. The business’s revenue was up 18.5% on a year-over-year basis. During the same period last year, the company earned ($0.16) earnings per share. research analysts anticipate that G-III Apparel Group will post 2.04 EPS for the current fiscal year.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, manufactures, and markets women's and men's apparel in the United States and internationally. The company operates in two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and 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 (NASDAQ:GIII)

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