G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Sells $2,030,524.20 in Stock

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 67,014 shares of G-III Apparel Group 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Morris Goldfarb also recently made the following trade(s):

• On Tuesday, September 24th, Morris Goldfarb sold 100,000 shares of G-III Apparel Group stock. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00.

G-III Apparel Group Stock Performance

Shares of NASDAQ GIII opened at $30.05 on Friday. The business’s 50-day simple moving average is $27.59 and its 200-day simple moving average is $27.70. 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 firm has a market cap of $1.35 billion, a price-to-earnings ratio of 7.87 and a beta of 2.19.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating 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 company had revenue of $644.80 million for the quarter, compared to analyst estimates of $649.54 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quantedge Capital Pte Ltd increased its stake in shares of G-III Apparel Group by 63.7% in the fourth quarter. Quantedge Capital Pte Ltd now owns 162,900 shares of the textile maker’s stock worth $5,535,000 after purchasing an additional 63,400 shares during the period. CastleKnight Management LP acquired a new position in shares of G-III Apparel Group during the fourth quarter worth approximately $2,015,000. Foundry Partners LLC bought a new stake in shares of G-III Apparel Group in the second quarter valued at approximately $518,000. SG Americas Securities LLC grew its stake in shares of 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 worth $1,054,000 after acquiring an additional 19,362 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in G-III Apparel Group during the first quarter worth $913,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. KeyCorp upped their target price 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. Telsey Advisory Group restated 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 lifted 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. Finally, StockNews.com upgraded shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, G-III Apparel Group has an average rating of “Hold” and a consensus price target 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.