New York State Teachers Retirement System Sells 557 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

New York State Teachers Retirement System lowered its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,800 shares of the textile maker’s stock after selling 557 shares during the quarter. New York State Teachers Retirement System’s holdings in G-III Apparel Group were worth $1,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of G-III Apparel Group during the 2nd quarter worth approximately $42,000. CWM LLC grew its position in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after purchasing an additional 1,012 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in G-III Apparel Group in the 2nd quarter valued at $78,000. Innealta Capital LLC bought a new stake in G-III Apparel Group during the 2nd quarter worth about $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of G-III Apparel Group during the 1st quarter worth about $171,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

GIII has been the topic of a number of recent research reports. Barclays lifted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Guggenheim began coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $36.00 target price for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, KeyCorp lifted their price objective on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, G-III Apparel Group presently has a consensus rating of “Hold” and an average price target of $30.00.

G-III Apparel Group Stock Performance

GIII opened at $30.86 on Friday. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 7.72 and a beta of 2.19. The business has a 50 day moving average of $30.55 and a 200-day moving average of $28.30. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Activity

In related news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 approximately $126,046,785.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.