G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,809 shares of the textile maker’s stock after selling 465 shares during the quarter. Amalgamated Bank’s holdings in G-III Apparel Group were worth $360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in G-III Apparel Group in the second quarter valued at approximately $42,000. CWM LLC raised its stake in shares of G-III Apparel Group by 115.0% in the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock valued at $51,000 after acquiring an additional 1,012 shares during the period. Point72 DIFC Ltd acquired a new position in shares of G-III Apparel Group during the 2nd quarter valued at $78,000. Innealta Capital LLC purchased a new stake in G-III Apparel Group during the 2nd quarter worth $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group in the 1st quarter valued at $171,000. 92.13% of the stock is owned by institutional investors and hedge funds.

G-III Apparel Group Stock Down 1.5 %

Shares of NASDAQ:GIII opened at $30.33 on Monday. The firm has a market cap of $1.33 billion, a PE ratio of 7.58 and a beta of 2.19. The company has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $28.38. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. G-III Apparel Group, Ltd. has a 12-month low of $20.66 and a 12-month high of $35.68.

G-III Apparel Group (NASDAQ:GIII) last released its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The company had revenue of $644.80 million during the quarter, compared to the consensus estimate of $649.54 million. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s revenue was down 2.3% on a year-over-year basis. On average, equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GIII shares. Barclays boosted their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. KeyCorp boosted their price target on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Guggenheim assumed coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They set a “buy” rating and a $36.00 price objective on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. Finally, StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and an average price target of $30.00.

Insider Buying and Selling at G-III Apparel Group

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 3,923,071 shares of the company’s stock, valued at approximately $118,869,051.30. This represents a 1.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.40% of the stock is currently owned by insiders.

G-III Apparel Group Company 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.