New York State Common Retirement Fund Sells 5,241 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

New York State Common Retirement Fund lessened its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 10.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 45,582 shares of the textile maker’s stock after selling 5,241 shares during the period. New York State Common Retirement Fund’s holdings in G-III Apparel Group were worth $1,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP grew its position in G-III Apparel Group by 569.2% in the third quarter. Trexquant Investment LP now owns 106,039 shares of the textile maker’s stock valued at $2,642,000 after acquiring an additional 90,194 shares during the last quarter. Walleye Capital LLC bought a new position in G-III Apparel Group in the third quarter valued at about $2,280,000. Charles Schwab Investment Management Inc. grew its position in G-III Apparel Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,118,951 shares of the textile maker’s stock valued at $27,884,000 after acquiring an additional 60,669 shares during the last quarter. Artemis Investment Management LLP grew its position in G-III Apparel Group by 57.7% in the fourth quarter. Artemis Investment Management LLP now owns 169,148 shares of the textile maker’s stock valued at $5,748,000 after acquiring an additional 61,915 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in G-III Apparel Group by 277.0% in the third quarter. Acadian Asset Management LLC now owns 77,523 shares of the textile maker’s stock valued at $1,928,000 after acquiring an additional 56,958 shares during the last quarter. Institutional investors own 92.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GIII. TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a report on Friday, March 22nd. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Barclays reiterated an “underweight” rating and issued a $23.00 target price (down from $30.00) on shares of G-III Apparel Group in a report on Monday, March 4th. Finally, UBS Group reduced their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, G-III Apparel Group currently has a consensus rating of “Hold” and an average target price of $25.83.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $28.23 on Friday. The company has a fifty day moving average of $28.35 and a 200-day moving average of $29.68. The firm has a market capitalization of $1.28 billion, a P/E ratio of 7.49 and a beta of 2.38. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26. G-III Apparel Group, Ltd. has a twelve month low of $15.83 and a twelve month high of $35.68.

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