G-III Apparel Group (NASDAQ:GIII) Reaching An Inflection Point; Needham Initiates Shares At Buy with $53 target

June 23, 2018 - By Clifton Ray

Investors sentiment increased to 1.24 in 2018 Q1. Its up 0.01, from 1.23 in 2017Q4. It is positive, as 18 investors sold G-III Apparel Group, Ltd. shares while 49 reduced holdings. 29 funds opened positions while 54 raised stakes. 45.68 million shares or 2.99% more from 44.36 million shares in 2017Q4 were reported.

109,141 are held by Morgan Stanley. Metropolitan Life Insur Co stated it has 0% of its portfolio in G-III Apparel Group, Ltd. (NASDAQ:GIII). Kistler owns 145 shares. Cibc Asset Mgmt Inc has 5,684 shares. Parametric Associate Lc owns 0% invested in G-III Apparel Group, Ltd. (NASDAQ:GIII) for 127,729 shares. State Board Of Administration Of Florida Retirement Systems reported 0% of its portfolio in G-III Apparel Group, Ltd. (NASDAQ:GIII). Credit Suisse Ag owns 61,972 shares. Rhumbline Advisers owns 103,027 shares for 0.01% of their portfolio. Swiss National Bank holds 0% or 76,400 shares in its portfolio. Gotham Asset Mgmt Ltd Limited Liability Company holds 0.01% in G-III Apparel Group, Ltd. (NASDAQ:GIII) or 18,572 shares. Jennison Limited Liability Corp accumulated 15,600 shares. 1.08 million are owned by State Street Corp. Waddell Reed Financial has invested 0.02% in G-III Apparel Group, Ltd. (NASDAQ:GIII). Columbus Circle Investors, a Connecticut-based fund reported 1.70M shares. The North Carolina-based Verity Asset Incorporated has invested 0.29% in G-III Apparel Group, Ltd. (NASDAQ:GIII).

Since April 9, 2018, it had 0 insider buys, and 7 sales for $39.39 million activity. Another trade for 20,000 shares valued at $981,680 was sold by Goldfarb Jeffrey David. Another trade for 5,000 shares valued at $243,750 was sold by FELLER ALAN. Shares for $94,000 were sold by VAN BOKHORST WILLEM. 10,412 shares valued at $513,832 were sold by BROSIG THOMAS on Friday, June 8. $46,346 worth of stock was sold by POMERANTZ LAURA H on Friday, April 13. Another trade for 28,000 shares valued at $1.08 million was sold by MILLER WAYNE S.

Why Has Needham Given G-III Apparel Group (NASDAQ:GIII) a $53 Price Target

Needham analyst started coverage with a Buy rating on G-III Apparel Group (NASDAQ:GIII) today and set a price target of $53. The firm’s shares opened today at 46.09.

G-III Apparel Group, Ltd. (NASDAQ:GIII) Ratings Coverage

Among 9 analysts covering G-III Apparel Group (NASDAQ:GIII), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. G-III Apparel Group has $58 highest and $33 lowest target. $45.56’s average target is -1.15% below currents $46.09 stock price. G-III Apparel Group had 13 analyst reports since January 9, 2018 according to SRatingsIntel. On Wednesday, June 6 the stock rating was maintained by Stifel Nicolaus with “Hold”. The stock of G-III Apparel Group, Ltd. (NASDAQ:GIII) earned “Hold” rating by FBR Capital on Friday, March 23. On Wednesday, June 6 the stock rating was upgraded by Barclays Capital to “Equal-Weight”. The stock of G-III Apparel Group, Ltd. (NASDAQ:GIII) has “Overweight” rating given on Wednesday, June 6 by KeyBanc Capital Markets. As per Tuesday, January 9, the company rating was maintained by Piper Jaffray. The firm has “Buy” rating given on Wednesday, January 10 by KeyBanc Capital Markets. The firm has “Outperform” rating given on Wednesday, May 30 by Cowen & Co. Buckingham Research maintained it with “Buy” rating and $55 target in Wednesday, June 6 report. On Friday, May 4 the stock rating was initiated by C.L. King with “Buy”. As per Wednesday, June 6, the company rating was maintained by Cowen & Co.

The stock decreased 0.90% or $0.42 during the last trading session, reaching $46.09. About 602,584 shares traded. G-III Apparel Group, Ltd. (NASDAQ:GIII) has risen 100.00% since June 23, 2017 and is uptrending. It has outperformed by 87.43% the S&P500.

G-III Apparel Group, Ltd. designs, manufactures, and markets menÂ’s and womenÂ’s apparel. The company has market cap of $2.27 billion. It operates in two divisions, Wholesale Operations and Retail Operations. It has a 28.02 P/E ratio. The companyÂ’s products include outerwear, dresses, sportswear, swimwear, womenÂ’s suits, and womenÂ’s performance wear; and womenÂ’s handbags, footwear, small leather goods, cold weather accessories, and luggage.

More notable recent G-III Apparel Group, Ltd. (NASDAQ:GIII) news were published by: Livetradingnews.com which released: “G-III Apparel Group, Ltd. (NASDAQ:GIII) Advanced 10.84%” on June 06, 2018, also Seekingalpha.com with their article: “G-III Apparel posts FQ1 profit” published on June 05, 2018, Nasdaq.com published: “Mid-Morning Market Update: Markets Edge Higher; Navistar Profit Tops Expectations” on June 05, 2018. More interesting news about G-III Apparel Group, Ltd. (NASDAQ:GIII) were released by: Nasdaq.com and their article: “G-III Apparel Group, Ltd. Stock Surges on Strong Q1 Report” published on June 05, 2018 as well as Streetinsider.com‘s news article titled: “Pre-Open Movers 06/05: (CODX) (GIII) (RGLS) Higher; (ANW) (FRAN) (ASNA) Lower (more…)” with publication date: June 05, 2018.

G-III Apparel Group, Ltd. (NASDAQ:GIII) Ratings Chart

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