G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Up 23.6% in September

G-III Apparel Group, Ltd. (NASDAQ:GIII) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 4,350,000 shares, a growth of 23.6% from the August 31st total of 3,520,000 shares. Approximately 11.5% of the shares of the company are sold short. Based on an average daily volume of 572,800 shares, the days-to-cover ratio is currently 7.6 days.

Insider Transactions at G-III Apparel Group

In related news, CEO Morris Goldfarb sold 67,014 shares of the firm’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 transaction, the chief executive officer now owns 3,923,071 shares in the company, valued at $118,869,051.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On G-III Apparel Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock worth $146,408,000 after buying an additional 292,668 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of G-III Apparel Group by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,376,310 shares of the textile maker’s stock valued at $91,396,000 after buying an additional 151,425 shares during the period. American Century Companies Inc. lifted its position in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares during the last quarter. LSV Asset Management lifted its holdings in G-III Apparel Group by 0.6% during the second quarter. LSV Asset Management now owns 851,683 shares of the textile maker’s stock valued at $23,055,000 after purchasing an additional 5,200 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in G-III Apparel Group by 142.8% in the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after buying an additional 206,993 shares during the period. 92.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GIII has been the subject of a number of research analyst reports. Barclays boosted their price target 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. StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 22nd. KeyCorp raised their target price on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a research report on Thursday, September 5th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.80.

G-III Apparel Group Trading Down 0.7 %

NASDAQ:GIII opened at $30.05 on Monday. G-III Apparel Group 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 firm’s fifty day moving average is $27.59 and its 200-day moving average is $27.68. The firm has a market cap of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) 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 return on equity of 12.81% and a net margin of 6.04%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. Equities analysts expect that G-III Apparel Group will post 4.01 earnings per share for the current year.

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.