Morris Goldfarb Sells 100,000 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) 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 transaction, the chief executive officer now directly owns 3,990,085 shares in the company, valued at $126,046,785.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 opened at $30.05 on Friday. The stock has a market cap of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19. 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 fifty day moving average price of $27.59 and a 200 day moving average price of $27.72. G-III Apparel Group, Ltd. has a 1 year low of $20.66 and a 1 year high of $35.68.

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. 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 period in the prior year, the company posted $0.40 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in G-III Apparel Group in the 4th quarter worth about $9,440,000. Quest Partners LLC acquired a new stake in shares of G-III Apparel Group in the fourth quarter valued at about $56,000. Franklin Resources Inc. lifted its stake in shares of G-III Apparel Group by 45.6% in the fourth quarter. Franklin Resources Inc. now owns 34,544 shares of the textile maker’s stock worth $1,174,000 after buying an additional 10,823 shares in the last quarter. US Bancorp DE lifted its stake in shares of G-III Apparel Group by 183.9% in the fourth quarter. US Bancorp DE now owns 22,258 shares of the textile maker’s stock worth $756,000 after buying an additional 14,417 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in G-III Apparel Group by 1.1% during the fourth quarter. Hsbc Holdings PLC now owns 48,671 shares of the textile maker’s stock worth $1,640,000 after acquiring an additional 532 shares during the last quarter. 92.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GIII. KeyCorp raised their price objective on G-III Apparel Group from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective on shares of G-III Apparel Group in a research note on Thursday, September 5th. Barclays increased their price objective on shares of G-III Apparel Group from $23.00 to $27.00 and gave the stock 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 report on Sunday, September 22nd. 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.