G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Sells $3,159,000.00 in Stock

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 100,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $31.59, for a total value of $3,159,000.00. Following the completion of the sale, the chief executive officer now owns 3,990,085 shares of the company’s stock, valued at $126,046,785.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 Stock Down 0.7 %

Shares of NASDAQ GIII opened at $30.05 on Friday. G-III Apparel Group, Ltd. has a 52-week low of $20.66 and a 52-week high of $35.68. The business’s 50 day moving average is $27.59 and its two-hundred day moving average is $27.72. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 7.87 and a beta of 2.19. The company has a quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last posted its earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, topping 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%. G-III Apparel Group’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Research analysts predict that G-III Apparel Group, Ltd. will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays boosted 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 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. KeyCorp increased their price objective 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. Finally, StockNews.com upgraded G-III Apparel Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in G-III Apparel Group during the 2nd quarter worth approximately $42,000. Quest Partners LLC acquired a new position in shares of G-III Apparel Group in the fourth quarter worth $56,000. CWM LLC grew its stake in shares of G-III Apparel Group by 115.0% in the second quarter. CWM LLC now owns 1,892 shares of the textile maker’s stock worth $51,000 after acquiring an additional 1,012 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of G-III Apparel Group during the second quarter worth $78,000. Finally, Innealta Capital LLC acquired a new stake in shares of G-III Apparel Group in the second quarter valued at $124,000. Hedge funds and other institutional investors own 92.13% of the company’s stock.

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.