Cortina Asset Management Lowers stake in G-III Apparel Group Ltd. (GIII)

G-III Apparel Group Ltd. (GIII) : Cortina Asset Management reduced its stake in G-III Apparel Group Ltd. by 0.71% during the most recent quarter end. The investment management company now holds a total of 675,271 shares of G-III Apparel Group Ltd. which is valued at $28,942,115 after selling 4,827 shares in G-III Apparel Group Ltd. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.G-III Apparel Group Ltd. makes up approximately 1.24% of Cortina Asset Management’s portfolio.

Other Hedge Funds, Including , Timpani Capital Management sold out all of its stake in GIII during the most recent quarter. The investment firm sold 43,298 shares of GIII which is valued $1,855,752.Blackrock Institutional Trust Company N.a. reduced its stake in GIII by selling 24,596 shares or 2.41% in the most recent quarter. The Hedge Fund company now holds 995,864 shares of GIII which is valued at $42,682,731. G-III Apparel Group Ltd. makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Ngam Advisors reduced its stake in GIII by selling 593 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 19,668 shares of GIII which is valued at $776,886. G-III Apparel Group Ltd. makes up approx 0.01% of Ngam Advisors’s portfolio.New York State Teachers Retirement System reduced its stake in GIII by selling 10,200 shares or 19.6% in the most recent quarter. The Hedge Fund company now holds 41,841 shares of GIII which is valued at $2,098,745. G-III Apparel Group Ltd. makes up approx 0.01% of New York State Teachers Retirement System’s portfolio. Arcadia Investment Management Corpmi added GIII to its portfolio by purchasing 356 company shares during the most recent quarter which is valued at $18,263. G-III Apparel Group Ltd. makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.

G-III Apparel Group Ltd. opened for trading at $43 and hit $44.85 on the upside on Tuesday, eventually ending the session at $44.62, with a gain of 4.55% or 1.94 points. The heightened volatility saw the trading volume jump to 4,41,450 shares. Company has a market cap of $2,034 M.

On the company’s financial health, G-III Apparel Group Ltd. reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jun 1, 2016. Analyst had a consensus of $0.03. The company had revenue of $457.40 million for the quarter, compared to analysts expectations of $473.22 million. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 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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