California State Teachers Retirement System cut its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,332 shares of the textile maker’s stock after selling 7,363 shares during the period. California State Teachers Retirement System owned approximately 0.14% of G-III Apparel Group worth $2,012,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Columbus Circle Investors bought a new stake in G-III Apparel Group during the third quarter worth approximately $30,233,000. Dimensional Fund Advisors LP boosted its holdings in G-III Apparel Group by 45.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,904,916 shares of the textile maker’s stock worth $72,478,000 after buying an additional 907,701 shares in the last quarter. Phocas Financial Corp. bought a new stake in G-III Apparel Group during the second quarter worth approximately $13,037,000. Cramer Rosenthal Mcglynn LLC lifted its position in shares of G-III Apparel Group by 26.7% in the 2nd quarter. Cramer Rosenthal Mcglynn LLC now owns 1,816,332 shares of the textile maker’s stock valued at $45,317,000 after acquiring an additional 382,482 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of G-III Apparel Group in the 3rd quarter valued at approximately $9,732,000.
Several brokerages recently commented on GIII. Telsey Advisory Group upped their price target on shares of G-III Apparel Group from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, December 6th. B. Riley restated a “buy” rating on shares of G-III Apparel Group in a research report on Wednesday, November 1st. Piper Jaffray Companies restated a “buy” rating on shares of G-III Apparel Group in a research report on Wednesday, January 10th. BidaskClub downgraded shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Finally, Barclays upped their price target on shares of G-III Apparel Group from $29.00 to $33.00 and gave the company an “underweight” rating in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. G-III Apparel Group has an average rating of “Buy” and a consensus target price of $35.45.
G-III Apparel Group, Ltd. (NASDAQ:GIII) traded up $0.84 during mid-day trading on Friday, reaching $34.59. 435,625 shares of the company’s stock were exchanged, compared to its average volume of 640,325. G-III Apparel Group, Ltd. has a 12 month low of $18.00 and a 12 month high of $40.96. The company has a current ratio of 3.52, a quick ratio of 1.91 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1,792.44, a P/E ratio of 41.18, a price-to-earnings-growth ratio of 1.21 and a beta of 0.24.
G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Tuesday, December 5th. The textile maker reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.13. G-III Apparel Group had a net margin of 1.58% and a return on equity of 5.65%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The company’s revenue was up 15.9% compared to the same quarter last year. analysts expect that G-III Apparel Group, Ltd. will post 1.51 EPS for the current fiscal year.
In other news, Vice Chairman Sammy Aaron sold 51,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $33.62, for a total transaction of $1,714,620.00. Following the transaction, the insider now owns 556,152 shares in the company, valued at approximately $18,697,830.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bokhorst Willem Van sold 7,518 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $37.51, for a total transaction of $282,000.18. Following the transaction, the director now owns 48,667 shares in the company, valued at approximately $1,825,499.17. The disclosure for this sale can be found here. 9.60% of the stock is owned by corporate insiders.
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About G-III Apparel Group
G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.
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