New York State Teachers Retirement System lifted its holdings in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,841 shares of the textile maker’s stock after purchasing an additional 2,700 shares during the quarter. New York State Teachers Retirement System owned 0.11% of G-III Apparel Group worth $689,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc grew its holdings in shares of G-III Apparel Group by 7.5% during the first quarter. Legal & General Group Plc now owns 153,731 shares of the textile maker’s stock worth $1,184,000 after purchasing an additional 10,766 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of G-III Apparel Group by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 585,998 shares of the textile maker’s stock worth $19,630,000 after purchasing an additional 9,337 shares in the last quarter. Rhumbline Advisers boosted its stake in G-III Apparel Group by 5.8% in the first quarter. Rhumbline Advisers now owns 157,954 shares of the textile maker’s stock worth $1,216,000 after buying an additional 8,594 shares in the last quarter. Federated Hermes Inc. purchased a new stake in G-III Apparel Group in the first quarter worth approximately $2,131,000. Finally, BNP Paribas Arbitrage SA boosted its stake in G-III Apparel Group by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 19,041 shares of the textile maker’s stock worth $147,000 after buying an additional 1,801 shares in the last quarter. 96.03% of the stock is owned by institutional investors.
Shares of GIII stock opened at $9.89 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.74 and a current ratio of 3.97. G-III Apparel Group, Ltd. has a fifty-two week low of $2.96 and a fifty-two week high of $34.42. The stock has a 50 day moving average price of $12.32 and a two-hundred day moving average price of $15.53. The company has a market capitalization of $518.01 million, a P/E ratio of 5.21, a PEG ratio of 12.94 and a beta of 2.59.
Several analysts have issued reports on GIII shares. Wells Fargo & Co lowered G-III Apparel Group from an “overweight” rating to an “equal weight” rating and set a $17.00 target price for the company. in a research note on Monday, June 8th. Piper Sandler cut their target price on G-III Apparel Group from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Needham & Company LLC started coverage on G-III Apparel Group in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $21.00 target price for the company. Telsey Advisory Group upped their target price on G-III Apparel Group from $10.00 to $16.00 and gave the stock a “market perform” rating in a research note on Friday, June 5th. Finally, BidaskClub lowered G-III Apparel Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.08.
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 in 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.
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