Public Sector Pension Investment Board Buys 3,619 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Public Sector Pension Investment Board boosted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 4.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 88,068 shares of the textile maker’s stock after buying an additional 3,619 shares during the period. Public Sector Pension Investment Board owned 0.20% of G-III Apparel Group worth $2,384,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GIII. CWM LLC lifted its holdings in G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares in the last quarter. Innealta Capital LLC bought a new position in shares of G-III Apparel Group during the second quarter worth $124,000. Allspring Global Investments Holdings LLC bought a new stake in G-III Apparel Group in the 1st quarter valued at $171,000. ProShare Advisors LLC boosted its holdings in shares of G-III Apparel Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after purchasing an additional 572 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in G-III Apparel Group during the second quarter valued at approximately $257,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GIII shares. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. KeyCorp increased their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.80.

G-III Apparel Group Stock Down 0.7 %

Shares of GIII opened at $30.05 on Monday. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19. The firm has a fifty day moving average price of $27.59 and a 200-day moving average price of $27.68. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same period in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.40% of the company’s stock.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through 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.