Ritholtz Wealth Management Sells 7,240 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Ritholtz Wealth Management decreased its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 21.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 25,824 shares of the textile maker’s stock after selling 7,240 shares during the period. Ritholtz Wealth Management’s holdings in G-III Apparel Group were worth $788,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in G-III Apparel Group by 46.8% during the 3rd 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 last quarter. Point72 DIFC Ltd bought a new position in shares of G-III Apparel Group during the second quarter valued at $78,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of G-III Apparel Group during the second quarter valued at $42,000. Sanctuary Advisors LLC bought a new stake in G-III Apparel Group in the 2nd quarter worth about $382,000. Finally, Point72 Asset Management L.P. purchased a new position in G-III Apparel Group in the 2nd quarter worth about $2,409,000. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Price Performance

Shares of GIII stock opened at $30.51 on Tuesday. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The stock has a 50 day moving average price of $28.40 and a 200 day moving average price of $27.86. The firm has a market capitalization of $1.37 billion, a P/E ratio of 7.99 and a beta of 2.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. During the same period in the previous year, the company posted $0.40 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total transaction of $3,159,000.00. Following the sale, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. KeyCorp lifted their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research report on Thursday, September 5th. StockNews.com cut G-III Apparel Group from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Guggenheim assumed coverage on shares of G-III Apparel Group in a research report on Wednesday, October 9th. They set a “buy” rating and a $36.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.00.

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.