Texas Permanent School Fund Corp Has $1.02 Million Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Texas Permanent School Fund Corp raised its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,835 shares of the textile maker’s stock after purchasing an additional 2,217 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of G-III Apparel Group worth $1,024,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Mutual Advisors LLC raised its holdings in G-III Apparel Group by 1.0% in the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after buying an additional 498 shares during the last quarter. SummerHaven Investment Management LLC increased its position in G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock valued at $1,023,000 after acquiring an additional 516 shares during the period. Hsbc Holdings PLC raised its stake in shares of G-III Apparel Group by 1.1% during the fourth quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock valued at $1,640,000 after acquiring an additional 532 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of G-III Apparel Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock worth $241,000 after purchasing an additional 572 shares during the period. Finally, CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after purchasing an additional 1,012 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Stock Down 0.4 %

Shares of NASDAQ:GIII opened at $31.71 on Friday. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 2.62. The business’s 50-day moving average is $27.03 and its 200-day moving average is $27.66. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.30 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.25. The firm had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. Equities research analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

GIII has been the subject of several analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. KeyCorp raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Barclays raised their price target on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.80.

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.