Ranger Investment Management Lowers stake in G-III Apparel Group Ltd. (GIII)

G-III Apparel Group Ltd. (GIII) : Ranger Investment Management reduced its stake in G-III Apparel Group Ltd. by 8.02% during the most recent quarter end. The investment management company now holds a total of 958,541 shares of G-III Apparel Group Ltd. which is valued at $41,083,067 after selling 83,578 shares in G-III Apparel Group Ltd. , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.G-III Apparel Group Ltd. makes up approximately 2.40% of Ranger Investment Management’s portfolio.

Other Hedge Funds, Including , Cupps Capital Management sold out all of its stake in GIII during the most recent quarter. The investment firm sold 81,695 shares of GIII which is valued $3,501,448. Tower Research Capital (trc) added GIII to its portfolio by purchasing 3,114 company shares during the most recent quarter which is valued at $133,466. G-III Apparel Group Ltd. makes up approx 0.01% of Tower Research Capital (trc)’s portfolio.Aberdeen Asset Management Plcuk boosted its stake in GIII in the latest quarter, The investment management firm added 331,331 additional shares and now holds a total of 689,063 shares of G-III Apparel Group Ltd. which is valued at $27,217,989. G-III Apparel Group Ltd. makes up approx 0.10% of Aberdeen Asset Management Plcuk’s portfolio.Msi Financial Services Inc reduced its stake in GIII by selling 80 shares or 87.91% in the most recent quarter. The Hedge Fund company now holds 11 shares of GIII which is valued at $436.Capstone Asset Management Co boosted its stake in GIII in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 11,986 shares of G-III Apparel Group Ltd. which is valued at $602,896. G-III Apparel Group Ltd. makes up approx 0.02% of Capstone Asset Management Co’s portfolio.

G-III Apparel Group Ltd. opened for trading at $40.99 and hit $41.84 on the upside on Monday, eventually ending the session at $41.77, with a gain of 1.83% or 0.75 points. The heightened volatility saw the trading volume jump to 9,55,791 shares. Company has a market cap of $1,904 M.

On the company’s financial health, G-III Apparel Group Ltd. reported $0.01 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Aug 30, 2016. Analyst had a consensus of $0.18. The company had revenue of $442.30 million for the quarter, compared to analysts expectations of $484.85 million. The company’s revenue was down -6.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on G-III Apparel Group Ltd.. Shares were Downgraded by Telsey Advisory Group on Jul 26, 2016 to ” Market Perform” and Lowered the Price Target to $ 45 from a previous price target of $54 .G-III Apparel Group Ltd. was Downgraded by Piper Jaffray to ” Neutral” on Jul 26, 2016.

G-III Apparel Group Ltd. designs manufactures and markets a range of apparel products. The Company’s apparel products include outerwear dresses sportswear swimwear women’s suits and women’s performance wear as well as footwear luggage and women’s handbags small leather goods and cold weather accessories. The Company operates through three segments Licensed Products Non-Licensed Products and Retail Operations. The Licensed products segment includes sales of products under brands licensed by the Company from third parties. The Non-licensed products segment includes sales of products under its own brands and under private label brands. The retail operations segment consists primarily of its Wilsons Leather and G.H. Bass stores as well as Calvin Klein Performance stores.

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