Truist Financial Corp Sells 495 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII)

Truist Financial Corp decreased its position in shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,232 shares of the textile maker’s stock after selling 495 shares during the quarter. Truist Financial Corp’s holdings in G-III Apparel Group were worth $385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundry Partners LLC bought a new position in G-III Apparel Group during the 2nd quarter worth approximately $518,000. SG Americas Securities LLC lifted its stake in G-III Apparel Group by 114.0% in the first quarter. SG Americas Securities LLC now owns 36,349 shares of the textile maker’s stock valued at $1,054,000 after buying an additional 19,362 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in G-III Apparel Group in the first quarter valued at approximately $913,000. Caxton Associates LP lifted its stake in G-III Apparel Group by 283.2% in the first quarter. Caxton Associates LP now owns 34,551 shares of the textile maker’s stock valued at $1,002,000 after buying an additional 25,535 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in G-III Apparel Group by 167.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 53,814 shares of the textile maker’s stock valued at $1,561,000 after buying an additional 33,690 shares in the last quarter. Institutional investors own 92.13% of the company’s stock.

G-III Apparel Group Stock Performance

Shares of GIII stock opened at $32.76 on Friday. The company’s fifty day simple moving average is $28.86 and its 200-day simple moving average is $27.94. 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 firm has a market cap of $1.47 billion, a PE ratio of 8.58 and a beta of 2.19. 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 announced its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other G-III Apparel Group news, CEO Morris Goldfarb sold 67,014 shares of the company’s 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GIII. Guggenheim began coverage on shares of G-III Apparel Group in a research note on Wednesday, October 9th. They issued a “buy” rating and a $36.00 price target on the stock. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. Barclays lifted their price target on shares of 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, KeyCorp boosted their price objective on shares of 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.00.

G-III Apparel Group 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.