Mutual of America Capital Management LLC Takes $242,000 Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Mutual of America Capital Management LLC purchased a new stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 7,122 shares of the textile maker’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio purchased a new position in shares of G-III Apparel Group during the third quarter valued at $34,000. Castleview Partners LLC purchased a new position in shares of G-III Apparel Group during the third quarter valued at $41,000. National Bank of Canada FI purchased a new position in shares of G-III Apparel Group during the third quarter valued at $62,000. DekaBank Deutsche Girozentrale purchased a new position in shares of G-III Apparel Group during the third quarter valued at $97,000. Finally, EMC Capital Management grew its holdings in shares of G-III Apparel Group by 217.4% during the third quarter. EMC Capital Management now owns 7,935 shares of the textile maker’s stock valued at $198,000 after buying an additional 5,435 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GIII shares. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Telsey Advisory Group restated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Friday, March 22nd. UBS Group lowered their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company lowered their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $25.83.

G-III Apparel Group Price Performance

Shares of NASDAQ:GIII opened at $28.95 on Wednesday. G-III Apparel Group, Ltd. has a fifty-two week low of $14.49 and a fifty-two week high of $35.68. The business has a 50-day moving average of $29.33 and a two-hundred day moving average of $29.42. The stock has a market capitalization of $1.31 billion, a P/E ratio of 7.68 and a beta of 2.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.36 and a quick ratio of 2.31.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings results on Thursday, March 14th. The textile maker reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The company had revenue of $764.80 million during the quarter, compared to analysts’ expectations of $816.98 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts predict that G-III Apparel Group, Ltd. will post 3.55 EPS for the current fiscal year.

G-III Apparel Group 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.