Insider Selling: 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 G-III Apparel Group stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $31.59, for a total value of $3,159,000.00. Following the sale, the chief executive officer now directly owns 3,990,085 shares of the company’s stock, valued at approximately $126,046,785.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 value of $2,030,524.20.

G-III Apparel Group Stock Performance

GIII stock opened at $30.05 on Friday. The stock has a market capitalization of $1.35 billion, a PE ratio of 7.87 and a beta of 2.19. The stock’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 12-month low of $20.66 and a 12-month high of $35.68. The company has a current ratio of 2.92, a quick ratio of 1.80 and a debt-to-equity ratio of 0.27.

G-III Apparel Group (NASDAQ:GIII) last released its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.27 by $0.25. G-III Apparel Group had a return on equity of 12.81% and a net margin of 6.04%. The company had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $649.54 million. During the same period last year, the firm posted $0.40 earnings per share. G-III Apparel Group’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on GIII shares. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. Barclays raised their price objective on G-III Apparel Group from $23.00 to $27.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price on shares of G-III Apparel Group in a report on Thursday, September 5th. Finally, KeyCorp raised their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.80.

Institutional Trading of G-III Apparel Group

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new stake in G-III Apparel Group in the second quarter worth approximately $78,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of G-III Apparel Group in the second quarter worth $42,000. Sanctuary Advisors LLC purchased a new stake in G-III Apparel Group during the second quarter valued at $382,000. Point72 Asset Management L.P. bought a new position in G-III Apparel Group in the second quarter valued at about $2,409,000. Finally, AQR Capital Management LLC boosted its position in G-III Apparel Group by 37.9% in the second quarter. AQR Capital Management LLC now owns 285,981 shares of the textile maker’s stock worth $7,742,000 after purchasing an additional 78,607 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors.

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.