Morris Goldfarb Sells 67,014 Shares of G-III Apparel Group, Ltd. (NASDAQ:GIII) Stock

G-III Apparel Group, Ltd. (NASDAQ:GIII) CEO Morris Goldfarb sold 67,014 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $30.30, for a total value of $2,030,524.20. Following the completion of the sale, the chief executive officer now 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 is available at 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 shares were sold at an average price of $31.59, for a total value of $3,159,000.00.

G-III Apparel Group Trading Down 0.7 %

Shares of G-III Apparel Group stock opened at $30.05 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 7.87 and a beta of 2.19. 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 quick ratio of 1.80, a current ratio of 2.92 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $27.59 and a 200 day simple moving average of $27.70.

G-III Apparel Group (NASDAQ:GIII) last posted its quarterly earnings data on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.25. The company had revenue of $644.80 million during 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 was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. Research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On G-III Apparel Group

Several institutional investors have recently bought and sold shares of the business. 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 valued at $5,535,000 after buying an additional 63,400 shares in the last quarter. CastleKnight Management LP bought a new stake in G-III Apparel Group during the 4th quarter worth about $2,015,000. Foundry Partners LLC acquired a new stake in G-III Apparel Group in the 2nd quarter valued at about $518,000. SG Americas Securities LLC raised 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. acquired a new position in shares of G-III Apparel Group during the first quarter worth approximately $913,000. Institutional investors own 92.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GIII shares. KeyCorp boosted their price target on shares of G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com raised shares of G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 22nd. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price target on shares of G-III Apparel Group in a research note on Thursday, September 5th. Finally, Barclays upped their price objective on 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, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $28.80.

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.