State of Alaska Department of Revenue Sells 548 Shares of G-III Apparel Group, LTD. (NASDAQ:GIII)

State of Alaska Department of Revenue lowered its position in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the textile maker’s stock after selling 548 shares during the quarter. State of Alaska Department of Revenue’s holdings in G-III Apparel Group were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC lifted its position in shares of G-III Apparel Group by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 29,853 shares of the textile maker’s stock worth $816,000 after buying an additional 461 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of G-III Apparel Group by 18.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,590 shares of the textile maker’s stock worth $117,000 after buying an additional 564 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of G-III Apparel Group by 4.3% during the 4th quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker’s stock worth $500,000 after buying an additional 631 shares in the last quarter. Vestcor Inc lifted its position in shares of G-III Apparel Group by 2.1% during the 4th quarter. Vestcor Inc now owns 31,988 shares of the textile maker’s stock worth $1,043,000 after buying an additional 665 shares in the last quarter. Finally, Atria Investments Inc lifted its position in shares of G-III Apparel Group by 9.1% during the 4th quarter. Atria Investments Inc now owns 8,102 shares of the textile maker’s stock worth $264,000 after buying an additional 673 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GIII. Telsey Advisory Group lowered their price target on shares of G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a report on Monday, June 9th. Wall Street Zen cut shares of G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 14th. UBS Group lowered their price target on shares of G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, June 9th. Barclays lowered their price target on shares of G-III Apparel Group from $21.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, June 9th. Finally, KeyCorp lowered their price target on shares of G-III Apparel Group from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $27.80.

G-III Apparel Group Trading Down 0.7%

G-III Apparel Group stock opened at $22.34 on Friday. G-III Apparel Group, LTD. has a 1-year low of $20.33 and a 1-year high of $36.18. The firm has a market capitalization of $967.55 million, a price-to-earnings ratio of 5.17 and a beta of 1.48. The firm has a 50 day simple moving average of $25.30 and a 200 day simple moving average of $27.77.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Friday, June 6th. The textile maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. G-III Apparel Group had a net margin of 6.20% and a return on equity of 12.65%. The business had revenue of $583.61 million during the quarter, compared to analyst estimates of $579.48 million. During the same period in the previous year, the business earned $0.12 EPS. G-III Apparel Group’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts forecast that G-III Apparel Group, LTD. will post 4.16 EPS for the current year.

Insider Activity at G-III Apparel Group

In other news, Director Amigo Victor Herrero purchased 5,000 shares of G-III Apparel Group stock in a transaction dated Tuesday, June 24th. The stock was purchased at an average cost of $21.95 per share, for a total transaction of $109,750.00. Following the transaction, the director now directly owns 54,746 shares of the company’s stock, valued at approximately $1,201,674.70. This trade represents a 10.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.00% of the stock is owned by company insiders.

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.