Louisiana State Employees Retirement System Sells 1,000 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Louisiana State Employees Retirement System reduced its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,100 shares of the textile maker’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in G-III Apparel Group were worth $583,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GIII. Allspring Global Investments Holdings LLC acquired a new stake in shares of G-III Apparel Group in the first quarter valued at about $171,000. Texas Permanent School Fund Corp grew its position in shares of G-III Apparel Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after purchasing an additional 482 shares during the last quarter. Empowered Funds LLC grew its position in shares of G-III Apparel Group by 14.1% in the first quarter. Empowered Funds LLC now owns 197,332 shares of the textile maker’s stock valued at $5,725,000 after purchasing an additional 24,399 shares during the last quarter. SG Americas Securities LLC grew its position in shares of G-III Apparel Group by 114.0% in the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after purchasing an additional 19,362 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of G-III Apparel Group by 10.5% in the first quarter. Illinois Municipal Retirement Fund now owns 26,459 shares of the textile maker’s stock valued at $768,000 after purchasing an additional 2,504 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at G-III Apparel Group

In other news, CEO Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.40% of the company’s stock.

G-III Apparel Group Stock Up 2.5 %

NASDAQ GIII opened at $30.54 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $30.18 and its two-hundred day moving average is $28.22. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 7.51 and a beta of 2.19. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The company had revenue of $644.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. Equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GIII. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Guggenheim began coverage on G-III Apparel Group in a research report on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price target on the stock. Barclays raised their price target on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. KeyCorp lifted their target price 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. Finally, Telsey Advisory Group reissued 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, G-III Apparel Group presently has an average rating of “Hold” and an average target price of $30.00.

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.