Texas Permanent School Fund Corp Decreases Stake in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Texas Permanent School Fund Corp reduced its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,112 shares of the textile maker’s stock after selling 2,217 shares during the period. Texas Permanent School Fund Corp’s holdings in G-III Apparel Group were worth $696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mutual Advisors LLC purchased a new stake in G-III Apparel Group during the second quarter valued at approximately $1,116,000. Louisiana State Employees Retirement System raised its position in G-III Apparel Group by 8.0% during the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the textile maker’s stock valued at $414,000 after purchasing an additional 1,600 shares during the period. HRT Financial LP purchased a new stake in G-III Apparel Group during the first quarter valued at approximately $2,028,000. LSV Asset Management raised its position in G-III Apparel Group by 5.9% during the second quarter. LSV Asset Management now owns 873,083 shares of the textile maker’s stock valued at $16,824,000 after purchasing an additional 48,968 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in G-III Apparel Group during the first quarter valued at approximately $325,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

G-III Apparel Group Stock Up 1.9 %

Shares of NASDAQ:GIII opened at $28.58 on Tuesday. G-III Apparel Group, Ltd. has a 52-week low of $11.60 and a 52-week high of $28.71. The stock has a market cap of $1.31 billion, a P/E ratio of -7.40 and a beta of 2.53. The business’s 50 day moving average is $25.25 and its 200 day moving average is $21.46. The company has a quick ratio of 1.28, a current ratio of 2.57 and a debt-to-equity ratio of 0.29.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, September 7th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.39. G-III Apparel Group had a positive return on equity of 7.63% and a negative net margin of 5.64%. The company had revenue of $659.80 million for the quarter, compared to analysts’ expectations of $591.39 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. G-III Apparel Group’s revenue was up 9.0% compared to the same quarter last year. Sell-side analysts predict that G-III Apparel Group, Ltd. will post 3.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on G-III Apparel Group from $19.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, September 8th. Telsey Advisory Group upped their target price on G-III Apparel Group from $22.00 to $24.00 in a research note on Friday, September 8th. Barclays upped their target price on G-III Apparel Group from $20.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. KeyCorp upped their target price on G-III Apparel Group from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, September 8th. Finally, UBS Group upped their target price on G-III Apparel Group from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, September 8th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and an average price target of $23.14.

Insider Buying and Selling

In related news, Director Laura H. Pomerantz sold 10,904 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $24.21, for a total value of $263,985.84. Following the transaction, the director now owns 20,166 shares of the company’s stock, valued at $488,218.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other G-III Apparel Group news, Director Alan Feller sold 10,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $24.04, for a total transaction of $240,400.00. Following the sale, the director now owns 29,357 shares of the company’s stock, valued at approximately $705,742.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Laura H. Pomerantz sold 10,904 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $24.21, for a total value of $263,985.84. Following the sale, the director now directly owns 20,166 shares in the company, valued at approximately $488,218.86. The disclosure for this sale can be found here. 13.20% of the stock is owned by insiders.

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.