Vestcor Inc Increases Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Vestcor Inc increased its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 197.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,323 shares of the textile maker’s stock after purchasing an additional 20,800 shares during the period. Vestcor Inc owned 0.07% of G-III Apparel Group worth $956,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the 2nd quarter valued at $42,000. CWM LLC boosted its holdings in G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares in the last quarter. Quarry LP purchased a new stake in shares of G-III Apparel Group during the third quarter worth about $63,000. Point72 DIFC Ltd acquired a new position in shares of G-III Apparel Group during the second quarter valued at about $78,000. Finally, Innealta Capital LLC purchased a new position in shares of G-III Apparel Group in the 2nd quarter valued at approximately $124,000. 92.13% of the stock is owned by hedge funds and other institutional investors.

G-III Apparel Group Trading Down 1.6 %

NASDAQ GIII opened at $34.65 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The stock has a market capitalization of $1.52 billion, a P/E ratio of 9.09 and a beta of 2.14. The firm’s 50-day moving average is $30.97 and its two-hundred day moving average is $28.77. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.78 EPS. On average, sell-side analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the completion of the sale, the chief executive officer now owns 3,990,085 shares in the company, valued at $126,046,785.15. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GIII has been the subject of a number of research reports. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Monday, December 2nd. KeyCorp increased their target price on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday. Telsey Advisory Group restated a “market perform” rating and issued a $32.00 price objective on shares of G-III Apparel Group in a research report on Tuesday. Barclays upped their target price on G-III Apparel Group from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, Guggenheim boosted their price target on shares of G-III Apparel Group from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and a consensus price target of $32.17.

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.