G-III Apparel Group, Ltd. (NASDAQ: GIII) Stock Sold by Alaska State Department of Revenue



The Alaska State Department of Revenue reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIIIGet a rating) by 1.8% in the first quarter, according to the company in its most recent filing with the SEC. The company held 30,402 shares of the textile maker after selling 545 shares during the period. The Alaska State Department of Revenue held about 0.06% of the G-III Apparel Group worth $822,000 at the end of the last quarter.

Other institutional investors have also recently changed their stake in the company. Goldman Sachs Group Inc. increased its stake in G-III Apparel Group shares by 590.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,172,073 shares of the textile maker valued at $32,396,000 after buying an additional 1,002,261 shares during the period. DE Shaw & Co. Inc. increased its position in G-III Apparel Group shares by 13.8% during the fourth quarter. DE Shaw & Co. Inc. now owns 768,300 shares of the textile maker worth $21,236,000 after purchasing an additional 93,350 shares during the period. Charles Schwab Investment Management Inc. increased its position in G-III Apparel Group shares by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,977 shares of the textile maker worth $18,408,000 after purchasing an additional 6,040 shares during the period. Pacer Advisors Inc. increased its position in G-III Apparel Group shares by 41.8% during the first quarter. Pacer Advisors Inc. now owns 357,982 shares of the textile maker worth $9,683,000 after buying an additional 105,554 shares during the period. Finally, Bank of Montreal Can increased its position in G-III Apparel Group shares by 1,103.6% during the 4th quarter. Bank of Montreal Can now owns 311,971 shares of the textile maker worth $8,654,000 after buying an additional 286,051 shares during the period. Institutional investors and hedge funds hold 92.61% of the company’s shares.

GIII has been the subject of a number of research analyst reports. StockNews.com cut shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a Wednesday, June 8 research report. Barclays reaffirmed an “equal weight” rating and set a price target of $22.00 on shares of G-III Apparel Group in a research report Wednesday, June 15. Telsey Advisory Group cut its price target on G-III Apparel Group shares from $38.00 to $30.00 and set a “market performance” rating on the stock in a Monday, March 14 report . TheStreet downgraded shares of G-III Apparel Group from a “b-” rating to a “c+” rating in a report released Tuesday. Finally, B. Riley cut his price target on G-III Apparel Group stock from $41.00 to $37.00 and set a “buy” rating on the stock in a Wednesday 8 report. June. Three research analysts have rated the stock with a hold rating and one has issued the company a buy rating. According to data from MarketBeat, G-III Apparel Group has an average rating of “Hold” and an average price target of $29.67.

Shares of GII opened at $20.65 on Friday. G-III Apparel Group, Ltd. has a 12-month low of $19.38 and a 12-month high of $35.12. The company’s fifty-day simple moving average is $23.54 and its 200-day simple moving average is $26.13. The company has a market capitalization of $995.74 million, a price-earnings ratio of 4.98 and a beta of 2.51. The company has a current ratio of 3.58, a quick ratio of 2.36 and a debt ratio of 0.33.

Clothing group G-III (NASDAQ:GIIIGet a rating) last reported its quarterly earnings data on Tuesday, June 7. The textile maker reported earnings per share of $0.72 for the quarter, beating analysts’ consensus estimate of $0.58 by $0.14. G-III Apparel Group achieved a net margin of 6.98% and a return on equity of 14.09%. The company posted revenue of $688.80 million for the quarter, versus analyst estimates of $597.35 million. During the same period last year, the company achieved EPS of $0.53. The company’s revenue increased 32.5% year over year. On average, analysts predict that G-III Apparel Group, Ltd. will post earnings per share of 4.47 for the current fiscal year.

About Clothing Group G-III (Get a rating)

G-III Apparel Group, Ltd. designs, sources and markets women’s and men’s clothing in the United States and around the world. 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 apparel; and women’s handbags, shoes, small leather goods, cold weather accessories and luggage.

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Institutional ownership by quarter for G-III Apparel Group (NASDAQ:GIII)



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