Louisiana State Employees Retirement System Invests $693,000 in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Louisiana State Employees Retirement System acquired a new position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,400 shares of the textile maker’s stock, valued at approximately $693,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GIII. Pacer Advisors Inc. grew its holdings in shares of G-III Apparel Group by 155.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock worth $123,019,000 after purchasing an additional 2,204,572 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in G-III Apparel Group by 39.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 665,539 shares of the textile maker’s stock worth $16,585,000 after buying an additional 189,239 shares in the last quarter. Invesco Ltd. boosted its stake in G-III Apparel Group by 23.5% in the third quarter. Invesco Ltd. now owns 643,282 shares of the textile maker’s stock worth $16,031,000 after buying an additional 122,484 shares in the last quarter. Quantedge Capital Pte Ltd purchased a new stake in G-III Apparel Group in the third quarter worth approximately $2,480,000. Finally, Vanguard Group Inc. boosted its stake in G-III Apparel Group by 2.0% in the third quarter. Vanguard Group Inc. now owns 4,702,233 shares of the textile maker’s stock worth $117,180,000 after buying an additional 92,673 shares in the last quarter. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $28.42 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36. G-III Apparel Group, Ltd. has a fifty-two week low of $14.49 and a fifty-two week high of $35.68. The stock has a 50 day moving average price of $29.14 and a two-hundred day moving average price of $29.48. The company has a market capitalization of $1.29 billion, a P/E ratio of 7.54 and a beta of 2.41.

G-III Apparel Group (NASDAQ:GIII) last announced its earnings results on Thursday, March 14th. The textile maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The company had revenue of $764.80 million during the quarter, compared to the consensus estimate of $816.98 million. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. Analysts expect that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

GIII has been the subject of several research reports. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Barclays reaffirmed an “underweight” rating and issued a $23.00 target price (down previously from $30.00) on shares of G-III Apparel Group in a research note on Monday, March 4th. UBS Group lowered their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. StockNews.com downgraded G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.83.

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.