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 G-III Apparel Group stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $30.30, for a total value of $2,030,524.20. Following the sale, the chief executive officer now directly owns 3,923,071 shares in the company, valued at approximately $118,869,051.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 Stock Performance

Shares of GIII opened at $30.05 on Friday. G-III Apparel Group, Ltd. has a one year low of $20.66 and a one year high of $35.68. The company has a 50-day moving average of $27.59 and a two-hundred day moving average of $27.72. 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 stock 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 issued its quarterly earnings results on Thursday, September 5th. The textile maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.25. The business had revenue of $644.80 million for the quarter, compared to the consensus estimate 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 for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities research analysts expect that G-III Apparel Group, Ltd. will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased 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 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. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a report on Sunday, September 22nd. Finally, KeyCorp increased their price target on G-III Apparel Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, G-III Apparel Group currently has an average rating of “Hold” and a consensus price target of $28.80.

Institutional Investors Weigh In On G-III Apparel Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of G-III Apparel Group by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,046,803 shares of the textile maker’s stock valued at $146,408,000 after acquiring an additional 292,668 shares in the last quarter. Norges Bank purchased a new position in G-III Apparel Group in the fourth quarter valued at about $9,440,000. F M Investments LLC acquired a new position in G-III Apparel Group in the 2nd quarter worth about $6,796,000. Marshall Wace LLP raised its stake in shares of G-III Apparel Group by 142.8% during the 2nd quarter. Marshall Wace LLP now owns 351,918 shares of the textile maker’s stock worth $9,526,000 after purchasing an additional 206,993 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of G-III Apparel Group by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 1,147,175 shares of the textile maker’s stock valued at $31,054,000 after buying an additional 155,079 shares during the last quarter. 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.