G-III Apparel Group, LTD. (NASDAQ:GIII) saw a significant decrease in short interest in September. As of September 29th, there was short interest totalling 5,661,293 shares, a decrease of 41.5% from the September 15th total of 9,673,760 shares. Based on an average daily volume of 680,287 shares, the short-interest ratio is currently 8.3 days. Approximately 14.2% of the shares of the stock are short sold.

In other news, COO Wayne S. Miller sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $29.56, for a total transaction of $1,478,000.00. Following the transaction, the chief operating officer now directly owns 269,531 shares in the company, valued at $7,967,336.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Feller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $29.22, for a total transaction of $58,440.00. Following the transaction, the director now owns 20,609 shares in the company, valued at $602,194.98. The disclosure for this sale can be found here. Insiders have sold 57,000 shares of company stock worth $1,682,990 over the last quarter. 9.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of G-III Apparel Group, LTD. by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 22,875 shares of the textile maker’s stock worth $571,000 after purchasing an additional 100 shares during the period. Texas Permanent School Fund lifted its position in shares of G-III Apparel Group, LTD. by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 31,969 shares of the textile maker’s stock worth $798,000 after purchasing an additional 275 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in shares of G-III Apparel Group, LTD. by 3.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,330 shares of the textile maker’s stock worth $258,000 after purchasing an additional 330 shares during the period. HighTower Advisors LLC lifted its position in shares of G-III Apparel Group, LTD. by 2.3% in the 2nd quarter. HighTower Advisors LLC now owns 18,197 shares of the textile maker’s stock worth $450,000 after purchasing an additional 408 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of G-III Apparel Group, LTD. by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,030 shares of the textile maker’s stock worth $849,000 after purchasing an additional 438 shares during the period. Hedge funds and other institutional investors own 99.38% of the company’s stock.

A number of brokerages have recently issued reports on GIII. Cowen and Company set a $30.00 target price on shares of G-III Apparel Group, LTD. and gave the stock a “hold” rating in a research report on Thursday. Barclays PLC began coverage on shares of G-III Apparel Group, LTD. in a research report on Tuesday, September 19th. They set an “underweight” rating and a $28.00 target price on the stock. Zacks Investment Research upgraded shares of G-III Apparel Group, LTD. from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Saturday, September 9th. Buckingham Research reiterated a “buy” rating and set a $35.00 target price (up from $30.00) on shares of G-III Apparel Group, LTD. in a research report on Thursday, September 7th. Finally, Stifel Nicolaus upped their target price on shares of G-III Apparel Group, LTD. from $20.00 to $28.00 and gave the stock a “hold” rating in a research report on Thursday, September 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. G-III Apparel Group, LTD. has an average rating of “Buy” and a consensus price target of $32.91.

G-III Apparel Group, LTD. (GIII) opened at 25.41 on Monday. The company has a 50-day moving average of $28.44 and a 200 day moving average of $24.98. G-III Apparel Group, LTD. has a one year low of $18.00 and a one year high of $32.98. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 38.62 and a beta of 0.23.

G-III Apparel Group, LTD. (NASDAQ:GIII) last issued its quarterly earnings results on Wednesday, September 6th. The textile maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.11. The firm had revenue of $538.00 million for the quarter, compared to the consensus estimate of $522.45 million. G-III Apparel Group, LTD. had a net margin of 1.23% and a return on equity of 4.65%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS. On average, analysts anticipate that G-III Apparel Group, LTD. will post $1.35 EPS for the current year.

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About G-III Apparel Group, LTD.

G-III Apparel Group, Ltd. designs, manufactures and markets a range of apparel products. The Company operates through two segments: wholesale operations and retail operations. Its apparel products include outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage.

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