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 G-III Apparel Group, Ltd. (NASDAQ:GIII) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 20,400 shares of the textile maker’s stock, valued at approximately $693,000.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GIII. Wells Fargo & Company decreased their target price on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, March 15th. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a research note on Thursday, March 14th. Barclays reissued an “underweight” rating and set 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 decreased their target price on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. 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 note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $25.83.

G-III Apparel Group Stock Performance

NASDAQ:GIII opened at $28.42 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.36 and a quick ratio of 2.31. G-III Apparel Group, Ltd. has a 1 year low of $14.49 and a 1 year high of $35.68. The stock’s 50 day simple moving average is $29.14 and its two-hundred day simple moving average is $29.48. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 7.54 and a beta of 2.41.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The business had revenue of $764.80 million for the quarter, compared to the consensus estimate of $816.98 million. During the same quarter in the previous year, the company posted $0.41 EPS. The company’s revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current fiscal year.

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.