G-III Apparel Group, Ltd. (NASDAQ:GIII) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in G-III Apparel Group, Ltd. (NASDAQ:GIII) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,149 shares of the textile maker’s stock after selling 341 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in G-III Apparel Group were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GIII. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of G-III Apparel Group in the 2nd quarter worth approximately $42,000. CWM LLC lifted 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 worth $51,000 after acquiring an additional 1,012 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of G-III Apparel Group in the 2nd quarter worth approximately $78,000. Innealta Capital LLC acquired a new stake in G-III Apparel Group during the second quarter valued at approximately $124,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in G-III Apparel Group during the first quarter valued at approximately $171,000. 92.13% of the stock is owned by institutional investors and hedge funds.

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 company’s stock in a transaction that occurred on Thursday, September 26th. The shares were 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 approximately $118,869,051.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.40% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on GIII shares. 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 note on Thursday, September 5th. Guggenheim started 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 target price for the company. StockNews.com lowered shares of G-III Apparel Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. KeyCorp increased 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 note on Friday, September 6th. Finally, Barclays increased their target price 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. Two research 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’s stock. Based on data from MarketBeat.com, G-III Apparel Group currently has a consensus rating of “Hold” and an average price target of $30.00.

G-III Apparel Group Stock Down 0.5 %

GIII stock opened at $31.13 on Wednesday. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The company’s 50 day simple moving average is $29.85 and its 200-day simple moving average is $28.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.92 and a quick ratio of 1.80. The firm has a market capitalization of $1.40 billion, a P/E ratio of 8.15 and a beta of 2.19.

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. 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 net margin of 6.04% and a return on equity of 12.81%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. As a group, equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

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.