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

State of Tennessee Department of Treasury cut its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 51.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,477 shares of the textile maker's stock after selling 19,901 shares during the period. State of Tennessee Department of Treasury's holdings in G-III Apparel Group were worth $603,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Trust Advisors LP grew its position in shares of G-III Apparel Group by 65.5% during the 4th quarter. First Trust Advisors LP now owns 143,942 shares of the textile maker's stock worth $4,695,000 after purchasing an additional 56,950 shares in the last quarter. Zacks Investment Management purchased a new stake in G-III Apparel Group in the fourth quarter worth about $1,185,000. Marshall Wace LLP increased its holdings in G-III Apparel Group by 80.6% during the fourth quarter. Marshall Wace LLP now owns 766,068 shares of the textile maker's stock valued at $24,989,000 after buying an additional 341,870 shares during the last quarter. XTX Topco Ltd lifted its position in shares of G-III Apparel Group by 241.0% in the fourth quarter. XTX Topco Ltd now owns 23,811 shares of the textile maker's stock worth $777,000 after buying an additional 16,828 shares in the last quarter. Finally, Barclays PLC boosted its position in G-III Apparel Group by 34.9% in the 4th quarter. Barclays PLC now owns 381,316 shares of the textile maker's stock valued at $12,439,000 after buying an additional 98,655 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

G-III Apparel Group Price Performance

Shares of GIII stock traded down $0.25 during trading hours on Friday, reaching $26.50. The company had a trading volume of 82,661 shares, compared to its average volume of 553,479. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $36.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.75 and a current ratio of 2.63. The stock has a fifty day moving average of $25.63 and a 200-day moving average of $29.18. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.96 and a beta of 1.41.

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

Analyst Ratings Changes

Several brokerages have issued reports on GIII. Barclays lowered 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 research note on Monday, April 28th. UBS Group lowered their price target on G-III Apparel Group from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Telsey Advisory Group reissued a "market perform" rating and set a $30.00 target price on shares of G-III Apparel Group in a research report on Friday, April 4th. Finally, StockNews.com lowered G-III Apparel Group from a "buy" rating to a "hold" rating in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $32.20.

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.