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

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 3,990,085 shares in the company, valued at approximately $126,046,785.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Price Performance

Shares of GIII traded up $0.22 during mid-day trading on Thursday, hitting $30.27. 650,438 shares of the stock were exchanged, compared to its average volume of 605,336. The firm has a 50-day moving average of $27.42 and a two-hundred day moving average of $27.69. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.80 and a current ratio of 2.92. The company has a market cap of $1.36 billion, a PE ratio of 7.92 and a beta of 2.19.

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

Institutional Trading of G-III Apparel Group

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

Analyst Ratings Changes

A number of analysts have recently weighed in on GIII shares. KeyCorp increased their target price on shares of 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 issued a $29.00 price objective on shares of G-III Apparel Group in a report on Thursday, September 5th. Barclays boosted their target price on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, G-III Apparel Group presently has an average rating of “Hold” and an average target price of $28.80.

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.