G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb Sells 100,000 Shares of Stock

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the transaction, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Morris Goldfarb also recently made the following trade(s):

• On Thursday, September 26th, Morris Goldfarb sold 67,014 shares of G-III Apparel Group stock. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20.

G-III Apparel Group Stock Up 0.7 %

GIII opened at $30.27 on Friday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 7.92 and a beta of 2.19. G-III Apparel Group, Ltd. has a 12 month low of $20.66 and a 12 month high of $35.68. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The business has a 50-day moving average of $27.50 and a two-hundred day moving average of $27.71.

G-III Apparel Group (NASDAQ:GIII) last issued 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. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $649.54 million. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. G-III Apparel Group’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GIII shares. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday, September 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research note on Thursday, September 5th. KeyCorp increased their target price on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Barclays upped their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, G-III Apparel Group presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Hedge Funds Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund Corp raised its stake in shares of G-III Apparel Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after purchasing an additional 482 shares during the period. Mutual Advisors LLC grew its holdings in G-III Apparel Group by 1.0% during the 1st quarter. Mutual Advisors LLC now owns 49,317 shares of the textile maker’s stock valued at $1,431,000 after purchasing an additional 498 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in G-III Apparel Group by 1.4% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,809 shares of the textile maker’s stock worth $1,023,000 after buying an additional 516 shares during the period. Hsbc Holdings PLC lifted its holdings in G-III Apparel Group by 1.1% in the 4th quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after buying an additional 532 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in G-III Apparel Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 8,317 shares of the textile maker’s stock valued at $241,000 after buying an additional 572 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

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.