Strs Ohio Buys 21,100 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Strs Ohio raised its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 1,507.1% in the 4th quarter, Holdings Channel reports. The firm owned 22,500 shares of the textile maker’s stock after acquiring an additional 21,100 shares during the period. Strs Ohio’s holdings in G-III Apparel Group were worth $764,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its holdings in shares of G-III Apparel Group by 155.7% in the 4th quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock valued at $123,019,000 after acquiring an additional 2,204,572 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of G-III Apparel Group by 39.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock valued at $16,585,000 after acquiring an additional 189,239 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of G-III Apparel Group by 23.5% in the 3rd quarter. Invesco Ltd. now owns 643,282 shares of the textile maker’s stock valued at $16,031,000 after acquiring an additional 122,484 shares during the last quarter. Quantedge Capital Pte Ltd bought a new position in shares of G-III Apparel Group in the 3rd quarter valued at about $2,480,000. Finally, Vanguard Group Inc. lifted its holdings in shares of G-III Apparel Group by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock valued at $117,180,000 after acquiring an additional 92,673 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of NASDAQ:GIII opened at $28.50 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of 7.56 and a beta of 2.41. The firm’s 50 day simple moving average is $29.21 and its 200-day simple moving average is $29.41. G-III Apparel Group, Ltd. has a one year low of $14.49 and a one year high of $35.68. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36.

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

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of analyst reports. Barclays reaffirmed an “underweight” rating and issued a $23.00 price target (down previously from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. TheStreet raised shares of G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reduced their price objective on shares of G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, March 15th. Finally, UBS Group reduced their price objective on shares of G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $25.83.

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.