Vestcor Inc Has $956,000 Stock Holdings in G-III Apparel Group, Ltd. (NASDAQ:GIII)

Vestcor Inc increased its position in G-III Apparel Group, Ltd. (NASDAQ:GIII - Free Report) by 197.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,323 shares of the textile maker's stock after buying an additional 20,800 shares during the quarter. Vestcor Inc owned about 0.07% of G-III Apparel Group worth $956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guidance Capital Inc. increased its position in shares of G-III Apparel Group by 2.0% in the third quarter. Guidance Capital Inc. now owns 16,861 shares of the textile maker's stock worth $563,000 after acquiring an additional 331 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in G-III Apparel Group by 1.4% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker's stock valued at $1,023,000 after purchasing an additional 516 shares in the last quarter. CWM LLC raised its position in G-III Apparel Group by 46.8% in the third quarter. CWM LLC now owns 2,777 shares of the textile maker's stock valued at $85,000 after purchasing an additional 885 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of G-III Apparel Group by 93.2% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker's stock worth $92,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of G-III Apparel Group by 0.6% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 329,720 shares of the textile maker's stock worth $10,063,000 after buying an additional 1,860 shares during the period. Institutional investors and hedge funds own 92.13% of the company's stock.

Insider Buying and Selling

In related news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. This trade represents a 1.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.40% of the company's stock.

Wall Street Analyst Weigh In

GIII has been the topic of several recent research reports. Telsey Advisory Group reissued a "market perform" rating and set a $32.00 price target on shares of G-III Apparel Group in a research report on Tuesday. KeyCorp lifted their price target on G-III Apparel Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Wednesday. Barclays boosted their price target on G-III Apparel Group from $27.00 to $29.00 and gave the company an "underweight" rating in a report on Wednesday. Guggenheim raised their price objective on G-III Apparel Group from $36.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of G-III Apparel Group from a "hold" rating to a "buy" rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $32.17.

G-III Apparel Group Price Performance

GIII traded up $1.45 during trading on Friday, reaching $36.10. The stock had a trading volume of 596,334 shares, compared to its average volume of 562,022. G-III Apparel Group, Ltd. has a 1-year low of $20.66 and a 1-year high of $36.18. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.48 and a beta of 2.14. The stock has a 50 day moving average of $31.09 and a two-hundred day moving average of $28.82. The company has a quick ratio of 1.80, a current ratio of 2.63 and a debt-to-equity ratio of 0.13.

G-III Apparel Group (NASDAQ:GIII - Get Free Report) last announced its earnings results on Tuesday, December 10th. The textile maker reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter last year, the business posted $2.78 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.15 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.