Nisa Investment Advisors LLC Grows Stock Position in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Nisa Investment Advisors LLC lifted its stake in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,320 shares of the textile maker’s stock after purchasing an additional 700 shares during the quarter. Nisa Investment Advisors LLC’s holdings in G-III Apparel Group were worth $283,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GIII. Pacer Advisors Inc. raised its stake in shares of G-III Apparel Group by 155.7% during the fourth quarter. Pacer Advisors Inc. now owns 3,620,323 shares of the textile maker’s stock worth $123,019,000 after purchasing an additional 2,204,572 shares during the last quarter. Madison Avenue Partners LP purchased a new position in G-III Apparel Group in the fourth quarter worth $25,716,000. Wasatch Advisors Inc. purchased a new position in G-III Apparel Group in the first quarter worth $28,890,000. Goldman Sachs Group Inc. raised its position in G-III Apparel Group by 632.5% in the second quarter. Goldman Sachs Group Inc. now owns 572,830 shares of the textile maker’s stock worth $11,038,000 after acquiring an additional 494,623 shares in the last quarter. Finally, Norges Bank purchased a new position in G-III Apparel Group in the fourth quarter worth $6,479,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Trading Down 0.5 %

Shares of GIII stock opened at $27.15 on Friday. G-III Apparel Group, Ltd. has a fifty-two week low of $14.49 and a fifty-two week high of $35.68. The stock has a market cap of $1.23 billion, a P/E ratio of 7.20 and a beta of 2.41. The business has a fifty day simple moving average of $29.53 and a 200-day simple moving average of $29.26. The company has a quick ratio of 2.31, a current ratio of 3.36 and a debt-to-equity ratio of 0.26.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, March 14th. The textile maker reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $764.80 million for the quarter, compared to analyst estimates of $816.98 million. G-III Apparel Group had a return on equity of 13.07% and a net margin of 5.69%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. On average, analysts forecast that G-III Apparel Group, Ltd. will post 3.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GIII. UBS Group cut their price objective on G-III Apparel Group from $34.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price objective on shares of G-III Apparel Group in a research report on Friday, March 22nd. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Barclays restated an “underweight” rating and issued a $23.00 price target (down previously from $30.00) on shares of G-III Apparel Group in a research report on Monday, March 4th. Finally, TheStreet upgraded G-III Apparel Group from a “c+” rating to a “b” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, G-III Apparel Group has an average rating of “Hold” and an average target price of $25.83.

G-III Apparel Group 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.