State of Tennessee Department of Treasury Sells 19,901 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

State of Tennessee Department of Treasury reduced its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 51.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,477 shares of the textile maker's stock after selling 19,901 shares during the quarter. State of Tennessee Department of Treasury's holdings in G-III Apparel Group were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Sanctuary Advisors LLC grew its position in G-III Apparel Group by 4.3% in the fourth quarter. Sanctuary Advisors LLC now owns 15,195 shares of the textile maker's stock valued at $500,000 after purchasing an additional 631 shares in the last quarter. Vestcor Inc raised its holdings in G-III Apparel Group by 2.1% during the fourth quarter. Vestcor Inc now owns 31,988 shares of the textile maker's stock worth $1,043,000 after acquiring an additional 665 shares in the last quarter. Atria Investments Inc boosted its position in G-III Apparel Group by 9.1% during the fourth quarter. Atria Investments Inc now owns 8,102 shares of the textile maker's stock valued at $264,000 after purchasing an additional 673 shares during the last quarter. Sterling Capital Management LLC grew its stake in G-III Apparel Group by 7.8% in the fourth quarter. Sterling Capital Management LLC now owns 15,103 shares of the textile maker's stock valued at $493,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker's stock worth $64,000 after purchasing an additional 1,412 shares during the last quarter. Institutional investors own 92.13% of the company's stock.

Analysts Set New Price Targets

GIII has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of G-III Apparel Group from a "buy" rating to a "hold" rating in a report on Wednesday, April 9th. Barclays dropped their target price on shares of G-III Apparel Group from $25.00 to $21.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. Telsey Advisory Group reissued a "market perform" rating and set a $30.00 price target on shares of G-III Apparel Group in a research report on Friday, April 4th. Finally, UBS Group cut their price objective on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $32.20.

G-III Apparel Group Stock Performance

G-III Apparel Group stock traded up $0.05 during trading hours on Tuesday, hitting $25.50. The company had a trading volume of 316,514 shares, compared to its average volume of 555,475. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $36.18. The firm has a market cap of $1.12 billion, a PE ratio of 6.69 and a beta of 1.41. The firm has a 50-day moving average of $25.65 and a 200 day moving average of $29.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The textile maker reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.30. The business had revenue of $839.50 million during the quarter, compared to the consensus estimate of $808.59 million. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, sell-side analysts expect that G-III Apparel Group, Ltd. will post 4.16 earnings per share for the current year.

About G-III Apparel Group

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.