G-III Apparel Group, Ltd. (NASDAQ:GIII) Stock Holdings Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,100 shares of the textile maker’s stock after selling 1,000 shares during the quarter. Louisiana State Employees Retirement System’s holdings in G-III Apparel Group were worth $583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIII. Point72 Asia Singapore Pte. Ltd. bought a new position in G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC boosted its stake in shares of G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth $78,000. Innealta Capital LLC bought a new stake in shares of G-III Apparel Group during the 2nd quarter worth $124,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of G-III Apparel Group during the 1st quarter worth $171,000. 92.13% of the stock is owned by institutional investors.

G-III Apparel Group Stock Performance

Shares of G-III Apparel Group stock opened at $30.54 on Wednesday. The stock has a market cap of $1.34 billion, a PE ratio of 7.51 and a beta of 2.19. The business has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $28.22. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last issued its earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same quarter last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the completion of the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GIII shares. StockNews.com lowered G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. 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 note on Friday, September 6th. Barclays raised their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Guggenheim started coverage on G-III Apparel Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

About G-III Apparel Group

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.