G-III Apparel Group (NASDAQ:GIII) Trading Down 4.3%

Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) were down 4.3% during mid-day trading on Wednesday . The company traded as low as $29.13 and last traded at $29.13. Approximately 88,841 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 601,263 shares. The stock had previously closed at $30.45.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GIII shares. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research report on Thursday, September 5th. KeyCorp upped their price objective 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 lifted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.80.

G-III Apparel Group Stock Down 4.2 %

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 7.97 and a beta of 2.19. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $27.75 and a 200-day moving average price of $27.74.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.25. The firm had revenue of $644.80 million for 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%. The company’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 earned $0.40 EPS. As a group, equities analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Insider Activity at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total transaction of $2,030,524.20. Following the transaction, the chief executive officer now owns 3,923,071 shares of the company’s stock, valued at $118,869,051.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.40% of the stock is currently owned by company insiders.

Institutional Trading of G-III Apparel Group

Large investors have recently made changes to their positions in the stock. Texas Permanent School Fund Corp raised its stake in shares of G-III Apparel Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 35,618 shares of the textile maker’s stock valued at $1,033,000 after acquiring an additional 482 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of 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 worth $1,431,000 after buying an additional 498 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of 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 grew its stake 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 valued at $1,640,000 after buying an additional 532 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings 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 worth $241,000 after acquiring an additional 572 shares during the period. Institutional investors own 92.13% of the company’s stock.

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.