Illinois Municipal Retirement Fund Sells 586 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Illinois Municipal Retirement Fund cut its holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,955 shares of the textile maker’s stock after selling 586 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of G-III Apparel Group worth $814,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GIII. Nisa Investment Advisors LLC increased its holdings in G-III Apparel Group by 9.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,320 shares of the textile maker’s stock worth $283,000 after acquiring an additional 700 shares during the period. Great Lakes Advisors LLC raised its position in shares of G-III Apparel Group by 0.3% in the third quarter. Great Lakes Advisors LLC now owns 233,916 shares of the textile maker’s stock worth $5,829,000 after buying an additional 735 shares in the last quarter. Rhumbline Advisers boosted its stake in G-III Apparel Group by 0.7% during the third quarter. Rhumbline Advisers now owns 139,882 shares of the textile maker’s stock valued at $3,486,000 after buying an additional 933 shares during the period. Range Financial Group LLC grew its position in G-III Apparel Group by 5.5% during the fourth quarter. Range Financial Group LLC now owns 21,301 shares of the textile maker’s stock worth $724,000 after buying an additional 1,103 shares in the last quarter. Finally, Strs Ohio bought a new position in G-III Apparel Group in the 3rd quarter worth about $34,000. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on GIII shares. TheStreet raised G-III Apparel Group from a “c+” rating to a “b” rating in a report on Thursday, March 14th. Barclays restated an “underweight” rating and set a $23.00 price objective (down previously from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Friday, March 22nd. Finally, Wells Fargo & Company cut their price objective on G-III Apparel Group from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.83.

G-III Apparel Group Price Performance

GIII stock opened at $28.68 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.31 and a current ratio of 3.36. The firm has a 50 day moving average price of $29.08 and a 200-day moving average price of $29.55. G-III Apparel Group, Ltd. has a 52-week low of $14.49 and a 52-week high of $35.68. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.61 and a beta of 2.41.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Thursday, March 14th. The textile maker reported $0.76 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $816.98 million. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts forecast that G-III Apparel Group, Ltd. will post 3.55 EPS for the current fiscal 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.