G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb Sells 67,014 Shares

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 67,014 shares of the company’s 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 sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at $118,869,051.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, September 24th, Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock. The shares were sold at an average price of $31.59, for a total transaction of $3,159,000.00.

G-III Apparel Group Stock Performance

NASDAQ:GIII traded up $0.22 during mid-day trading on Thursday, reaching $30.27. The company’s stock had a trading volume of 650,438 shares, compared to its average volume of 605,336. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.36 billion, a P/E ratio of 7.92 and a beta of 2.19. The firm’s fifty day moving average price is $27.42 and its two-hundred day moving average price is $27.69. 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 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. G-III Apparel Group had a net margin of 6.04% and a return on equity of 12.81%. The firm had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $649.54 million. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, equities analysts forecast that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Institutional Trading of G-III Apparel Group

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in G-III Apparel Group during the second quarter valued at approximately $42,000. CWM LLC boosted its stake in shares of G-III Apparel Group by 115.0% during the 2nd quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares during the last quarter. Quest Partners LLC bought a new stake in shares of G-III Apparel Group during the 4th quarter valued at $56,000. Point72 DIFC Ltd purchased a new stake in shares of G-III Apparel Group in the 2nd quarter worth $78,000. Finally, Innealta Capital LLC bought a new position in G-III Apparel Group in the 2nd quarter worth $124,000. Institutional investors own 92.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GIII shares. Barclays boosted their price objective on shares of 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. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Telsey Advisory Group reissued 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, G-III Apparel Group currently has an average rating of “Hold” and a consensus target price of $28.80.

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.