G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,071 shares of the textile maker’s stock after purchasing an additional 14,016 shares during the quarter. New York State Common Retirement Fund owned 0.10% of G-III Apparel Group worth $1,438,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Quarry LP bought a new position in shares of G-III Apparel Group in the third quarter valued at approximately $63,000. Point72 Asia Singapore Pte. Ltd. lifted its position in G-III Apparel Group by 93.2% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock worth $92,000 after purchasing an additional 1,460 shares during the period. Point72 Hong Kong Ltd bought a new position in G-III Apparel Group during the 3rd quarter valued at $152,000. Point72 DIFC Ltd increased its position in shares of G-III Apparel Group by 103.2% during the 3rd quarter. Point72 DIFC Ltd now owns 5,821 shares of the textile maker’s stock valued at $178,000 after purchasing an additional 2,957 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of G-III Apparel Group in the 3rd quarter worth $181,000. 92.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GIII shares. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a research note on Wednesday, December 18th. KeyCorp increased their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Guggenheim raised their target price on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Barclays upped their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $33.17.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $27.07 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.63 and a debt-to-equity ratio of 0.13. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $36.18. The business has a fifty day simple moving average of $30.79 and a 200-day simple moving average of $30.50. The stock has a market cap of $1.19 billion, a PE ratio of 7.11 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Tuesday, December 10th. The textile maker reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.78 earnings per share. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.16 EPS for the current fiscal year.

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.