G-III Apparel Group, LTD. (NASDAQ:GIII) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of G-III Apparel Group, LTD. (NASDAQ:GIII) by 38.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,846 shares of the textile maker’s stock after selling 34,062 shares during the period. Teacher Retirement System of Texas owned about 0.12% of G-III Apparel Group worth $1,500,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in G-III Apparel Group by 3,366.6% in the first quarter. GAMMA Investing LLC now owns 23,330 shares of the textile maker’s stock worth $638,000 after purchasing an additional 22,657 shares in the last quarter. Phocas Financial Corp. grew its stake in G-III Apparel Group by 84.4% in the fourth quarter. Phocas Financial Corp. now owns 234,020 shares of the textile maker’s stock worth $7,634,000 after purchasing an additional 107,082 shares in the last quarter. CX Institutional bought a new position in shares of G-III Apparel Group during the first quarter valued at approximately $2,571,000. Janney Montgomery Scott LLC lifted its stake in G-III Apparel Group by 5.5% in the first quarter. Janney Montgomery Scott LLC now owns 16,600 shares of the textile maker’s stock valued at $454,000 after buying an additional 861 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in G-III Apparel Group by 15.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,617 shares of the textile maker’s stock valued at $564,000 after purchasing an additional 2,831 shares during the period. 92.13% of the stock is currently owned by institutional investors and hedge funds.

G-III Apparel Group Price Performance

G-III Apparel Group stock opened at $23.97 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of 5.55 and a beta of 1.38. G-III Apparel Group, LTD. has a one year low of $20.33 and a one year high of $36.18. The business has a 50 day simple moving average of $24.96 and a 200 day simple moving average of $27.07.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results 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 return on equity of 12.65% and a net margin of 6.20%. The firm had revenue of $583.61 million during the quarter, compared to analysts’ expectations of $579.48 million. During the same period last year, the firm posted $0.12 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities analysts anticipate that G-III Apparel Group, LTD. will post 4.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on 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. UBS Group reduced their target price on G-III Apparel Group from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Monday, June 9th. Telsey Advisory Group dropped their price target on G-III Apparel Group from $30.00 to $27.00 and set a “market perform” rating on the stock in a research report on Monday, June 9th. Wall Street Zen lowered G-III Apparel Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, KeyCorp lowered their price objective on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $27.80.

Insider Activity

In other G-III Apparel Group news, Director Amigo Victor Herrero purchased 5,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the transaction, the director directly owned 54,746 shares in the company, valued at $1,201,674.70. This represents a 10.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.00% of the company’s stock.

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.